U.S. Treasury Secretary Scott Bessent participates in a television interview at the White House in Washington, D.C., 2 April 2025 Photo: Chris Kleponis / Zuma Press
Washington is urging states not to impose retaliatory duties on the new trade barriers imposed by the Trump administration to avoid escalating the economic conflict. Meanwhile, the EU and other countries are considering retaliatory measures.
On Wednesday, US Treasury Secretary Scott Bessent called on world governments not to retaliate against the new tariffs announced by Donald Trump. He warned that any response from the US partners would only escalate the trade war.
“Relax, take the hit and see how the situation develops. If you retaliate, it will only lead to escalation,” Bessent said, as quoted by AFP.
The day before, Trump announced that any goods imported into the US would be subject to a duty of at least 10%. At the same time, even tougher measures were introduced for certain countries:
- EU – 20 PER CENT
- China – 34%.
- Switzerland – 31%.
- India – 26%.
- Brazil, UK – 10% each
Europe’s reaction
European Commission President Ursula von der Leyen, who is on a visit to Uzbekistan, plans to make an official statement on Washington’s actions on Thursday at 6:00 a.m. Kyiv time.
Analysts warn that Trump’s decision could trigger a new round of global economic instability and higher prices for imported goods in the US.
