Donald Trump on Wednesday (local time) announced reciprocal tariffs, which he called "Liberation Day".
Washington:
US Treasury Secretary Scott Bessent on Wednesday warned trading partners that any retaliation to the barrage of new tariffs from the White House would only result in further escalation.
"My advice to every country right now is, do not retaliate," Bessent told Fox News. "Sit back, take it in, let's see how it goes. Because if you retaliate, there will be escalation. If you don't retaliate, this is the high watermark."
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