Treasury Secretary Scott Bessent urged countries to think twice before retaliating after President Donald Trump imposed his “Liberation Day” tariffs on nations across the globe on Wednesday.
Trump is hitting nearly every country in the world with what the White House is calling “reciprocal tariffs,” including an additional 34% tariff on China, a 20% tariff on the European Union, and a 46% tariff on Vietnam. Bessent told Fox News host Bret Baier on Wednesday, “My advice to every country right now is do not retaliate.”
“Sit back, take it in. Let’s see how it goes,” Bessent added. “Because if you retaliate, there will be escalation. If you don’t retaliate, this is the high-water mark.”
Following Trump’s Wednesday announcement, the European Union and China signaled they would hit U.S. exports with retaliatory tariffs. E.U. ambassadors are set to meet on Thursday to…
