Treasury Secretary Scott Bessent advised countries not to retaliate against the U.S. following President Trump's new tariff policy, emphasizing long-term economic growth. Trump announced a minimum 10 percent import tax on all goods, with some nations facing rates as high as 49 percent. Mexico and Canada, exempt under the USMCA, still face 25 percent tariffs. Bessent reassured concerns about 401(k)s, stating the administration is setting the stage for sustainable economic growth and avoiding a financial crisis.
Source: https://thehill.com/homenews/administration/5229591-bessent-u-s-tariff-policy/