Scott Bessent, the U.S. Secretary of the Treasury. Bloomberg
The Donald Trump administration has sent a warning signal to trade partners who oppose the announcement of reciprocal tariffs.
In an interview with Fox News on the 2nd (local time), U.S. Treasury Secretary Scott Bessent advised all countries not to retaliate, saying, “Accept it quietly and see how the situation develops.”
Secretary Bessent stated, “If retaliatory measures are taken, the situation will worsen, but if there are no retaliatory actions, it will not escalate further.”
This implies that if trade partners take retaliatory measures such as imposing counter-tariffs, the U.S. may impose additional burdens beyond the already announced reciprocal tariffs.
The international community is concerned that the announcement of U.S. reciprocal tariffs on this day, along with countermeasures by major trade partners, may lead global trade into a vicious cycle of retaliation.