World leaders ripped President Donald Trump’s Liberation Day tariff announcement in a myriad of fiery responses on Wednesday as U.S. Treasury Secretary Scott Bessent urged them to “take a deep breath” and to not “immediately retaliate.”
Bessent, in an interview with CNN’s Kaitlan Collins, called for countries hit by tariff hikes to “see where this goes” and warned that retaliation could result in full “escalation.”
Bessent wagered that America as the “deficit country” has an “advantage” over “surplus countries,” and he cautioned that doing anything “rash” in response would be “unwise.” He added, “The surplus countries traditionally always lose any kind of a trade escalation.”
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