US EditionBessent warns retaliation could raise ‘ceiling’ of reciprocal tariffs
- President Donald Trump announced a new tariff policy, imposing a minimum 10 percent import tax on all goods entering the U.S., with some nations facing up to 49 percent tax on imports.
- Following Trump's tariff announcement, stock markets worldwide fell, with U.S. Markets down more than 4 percent on Thursday.
- U.S. Treasury Secretary Scott Bessent advised foreign trading partners not to panic or retaliate against Trump's tariffs, stating, 'As long as you don't retaliate, this is the high end of the number.'
- Bessent expressed that the actions are intended to set the stage for long-term economic growth, noting past financial crises in 1998 and 2007 as cautionary examples.
16 Articles
16 Articles
‘Sit Back, Take It In’: Treasury Secretary Threatens Tariff ‘Escalation’ If Countries ‘Retaliate’
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 ...
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thedailyeconomy.orgContra Bessent, Affordability Contributes to American Greatness
In a recent defense of proposed tariffs, US Treasury Secretary Scott Bessent declared that “access to cheap goods is not the essence of the American dream.” The remark, presumably aimed at justifying protectionist trade policies, deserves careful scrutiny, not only because it risks redefining a long-standing ideal, but because it reflects an increasing drift away from foundational principles of free markets, consumer sovereignty, and individual …
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