US Treasury Secretary Scott Bessent has called on the United States' trading partners not to retaliate against President Donald Trump's new set of "reciprocal" tariffs, UNN writes, citing Bloomberg.
Details
"I wouldn't try to retaliate," Bessent said in an interview with Bloomberg Television on Wednesday. "If you don't retaliate, that's the upper limit of the figure."
Bessent spoke shortly after Trump introduced a 10% universal base tariff for many trading partners with much higher additional tariffs for others, including a 34% rate for China and a 20% levy for the European Union.
"This is the upper limit of the figure, which excludes retaliatory measures," Bessent said. - As for the negotiations - we'll see."
While other countries have approached Washington with a proposal for trade negotiations, the US Treasury Secretary made it clear that the administration will "let everything settle down for a while."
"We'll see what comes of it," he said.
Addition
US President Donald Trump introduced tariffs of at least 10% on Wednesday for virtually the entire world, with one notable exception: russia.
Ukraine, against which the Russian Federation has unleashed a war, will face a "reciprocal" US tariff of 10%.