President Trump stopped short of fully reciprocal tariffs since “it would have been tough for a lot of countries.”
As President Trump implemented tariffs on products from dozens of countries on what he called “Liberation Day,” Treasury Secretary Scott Bessent advised global governments to not respond by raising their tariffs on the United States.
“My advice to every country right now is: Do not retaliate. Sit back, take it in, let’s see how it goes. Because if you retaliate, there will be escalation,“ Secretary Bessent said during an interview. “If you don’t retaliate, this is the high-water mark,”
The new tariffs went into effect on Wednesday, imposing a minimum 10 percent import rate on all goods brought into the country with a number of higher tariffs ranging from 25 percent to 49 percent. Products from Mexico and Canada are also receiving these tariffs, but products covered by the U.S.-Mexico-Canada trade agreement are exempt.
The White House release stated, “These tariffs will remain in effect until such a time as President Trump determines that the threat posed by the trade deficit and underlying nonreciprocal treatment is satisfied, resolved, or mitigated.“
“The tariffs will be not a full reciprocal. I could have done that, I guess,” President Donald Trump said on Wednesday. “But it would have been tough for a lot of countries.”
As the Lord Leads, Pray with Us…
- For Treasury Secretary Bessent as he advocates for the president’s tariff and economic policy.
- For wisdom for President Trump as he seeks to balance the tariffs being levied against American products internationally and build up domestic production.
Sources: The Hill, Fox News
