Treasury Secretary Scott Bessent had a simple three-word response to countries looking to respond to the United States’ broad tariffs: “Do not retaliate.”
President Donald Trump announced on his self-proclaimed “Liberation Day” and declared a 10% tariff on all goods as well as retaliatory tariffs on some of the U.S.’s closest allies that he says are taking advantage of the U.S.
Tariffs of 34% on China, 20% on the EU, 24% on Japan, and 32% on Taiwan are some of the more noticeable ones. Due to an existing 20% tariff, the tariffs on China went up to 54%. READ MORE