US Treasury Secretary Warns Countries Not to Retaliate Against Tariffs
(MENAFN) US Treasury Secretary Scott Bessent cautioned nations on Wednesday not to respond to the series of tariffs imposed by the White House. He explained that if no retaliatory actions are taken, the U.S. will not raise the customs duty rates further.
"I would advise none of the countries to panic. I wouldn't try to retaliate, because as long as you don't retaliate, this is the high end of the number," Bessent stated during an interview. He emphasized that the markets can be reassured that these rates will remain stable as long as no retaliation occurs.
Bessent also highlighted that some nations have reached out to discuss potential tariff talks. However, he made it clear that any decisions in this matter would ultimately depend on Leader Donald Trump.
In a separate interview with a news agency, Bessent repeated his warning: "Right now, my advice to every country is not to retaliate. Let’s see how things unfold, because if you retaliate, things will escalate."
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