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US Treasury Secretary Bessent Advises Against Retaliatory Tariffs

The US Treasury Secretary Scott Bessent recommended that countries refrain from retaliatory tariffs to avoid higher rates of customs duties. In an interview with Bloomberg, Bessent commented on the reciprocal tariffs announced by US President Donald Trump. Advising countries not to panic, Bessent stated, “If I were them, I wouldn’t try to retaliate because as long as you don’t retaliate, that number will be the upper limit.” Bessent assured that if no retaliatory actions are taken, the rates will remain certain in the markets. Bessent mentioned that countries have been contacted for tariff negotiations, but emphasized that the decision lies with President Trump. Referring to China’s statement that solving the fentanyl crisis is tied to the removal of tariffs, Bessent argued that rankings should not work that way. In an interview with Fox News, Bessent reiterated similar statements, advising every country not to engage in retaliation. He warned, “Let’s see how it goes, because if you retaliate, escalation will happen.”

US Treasury Secretary Bessent Advises Against Retaliatory Tariffs

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