Live Update 
From the Liveblog of
Thursday, April 3, 2025
From the Liveblog of
Thursday, April 3, 2025
US Treasury chief warns ‘there will be escalation’ if countries respond to tariffs
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US Treasury Secretary Scott Bessent attends President Donald Trump's remarks on reciprocal tariffs during a so-called "Make America Wealthy Again" event in the Rose Garden of the White House in Washington, on April 2, 2025. (Saul Loeb/AFP)
WASHINGTON — US Treasury Secretary Scott Bessent warns trading partners that any retaliation to the barrage of new tariffs from the White House will only result in further escalation.
“My advice to every country right now is, do not retaliate,” Bessent tells Fox News. “Sit back, take it in, let’s see how it goes. Because if you retaliate, there will be escalation. If you don’t retaliate, this is the high watermark.”
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