Market Fluctuations and Fiscal Policy Prospects

Treasury Secretary Scott Bessent urged US trading partners against taking retaliatory steps against President Donald Trump’s new set of retaliatory tariffs.

“I wouldn’t try to retaliate,” Bessent said in an interview Wednesday with Bloomberg Television. “As long as you don’t retaliate this is the high end of the number.”

Bessent spoke shortly after Trump unveiled a 10% universal baseline tariff for many trading partners, with much higher surtaxes on others — including a 34% rate for China and 20% levy on the European Union.

He spoke to Bloomberg's Annmarie Hordern. 

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