US Treasury says to tariff-struck countries ‘sit back and take it in’
(MENAFN) US Treasury Secretary Scott Bessent has called on America's trading partners not to retaliate against President Donald Trump's newly announced tariffs, warning that countermeasures could spark a broader trade conflict.
Speaking to Fox News on Wednesday, shortly after Trump revealed sweeping new duties as part of his ‘Liberation Day’ trade initiative, Bessent encouraged other nations to “sit back, take it in,” and avoid escalating tensions. “Retaliation will only lead to escalation,” he cautioned.
Trump’s plan introduces a 10% base tariff on all imports starting April 5, with country-specific reciprocal tariffs following on April 9. A separate 25% duty on cars and trucks begins April 3, and the same rate will apply to auto parts from May 3. Targeted nations include China (34%), India (26%), Japan (24%), South Korea (25%), South Africa (30%), and the European Union (20%).
The US president argues these measures are necessary to rebalance global trade and end what he sees as decades of exploitation of the American market.
The international response has been swift and critical. European Commission President Ursula von der Leyen condemned the tariffs as a “major blow to the world economy,” warning of severe consequences for millions of people globally. German Chancellor Olaf Scholz labeled the move “fundamentally wrong” and said Europe would “defend our interests.”
China's Commerce Ministry also pushed back, calling for the US to lift the tariffs and resolve disputes through equal dialogue. “There are no winners in trade wars,” the ministry stated, rejecting protectionist policies as a viable path forward.
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