US imposes tariffs on the whole world, Minister Bessent suggests 'tariffs are not permanent'

áp thuế - Ảnh 1. — US Treasury Secretary Scott Bessent - Photo: REUTERS

"Countries that retaliate will lose"

In an interview with CNN on April 2, US Treasury Secretary Scott Bessent sent a message to any country that intends to respond to President Donald Trump's tax plan .

“Sit down, take a deep breath, don’t retaliate right away. See how this plays out. If you retaliate, that’s how you escalate,” Bessent stressed.

“A trade war depends on the country,” he continued. “But remember, historically in trade, we are the deficit country. The deficit country has an advantage. They are the surplus countries. And the surplus countries have traditionally lost in any trade escalation. As a student or professor of economic history, I would advise against it.”

The European Union (EU), China, Japan, South Korea, Colombia and Mexico have previously said they would respond to Mr Trump's trade measures.

On April 2, Mr. Bernd Lange, Chairman of the European Parliament's International Trade Committee, criticized the new US reciprocal tariffs as "unreasonable, illegal and disproportionate".

However, Secretary Bessent warned other countries that “it would be unwise to act hastily.” He also suggested that the tariffs may not be permanent and that he believes the Trump administration will “wait and see how things play out.”

Warning of recession risk

According to Reuters, President Trump announced on April 2 that he would impose a basic tax of 10% on all goods imported into the US and higher taxes on dozens of other countries, including the country's largest trading partners.

Accordingly, imports from China will be subject to a 34% tax rate, in addition to the 20% previously imposed, bringing the total new tax rate to 54%. Close allies of the US are not exempted, with the EU facing a 20% tax rate and Japan facing a 24% tax rate.

The base 10% tariff will take effect on April 5, while higher tariffs will take effect on April 9, according to a White House official who asked not to be identified.

Canada and Mexico - the US's two largest trading partners - are already subject to a 25% tariff and will not be subject to any new tariffs from the announcement.

Some items will not be subject to reciprocal tariffs, including copper, pharmaceuticals, semiconductors, timber, gold, energy and “certain minerals not available in the United States.”

These sweeping tariffs would erect barriers around the world's largest consumer economy and reverse decades of free trade that have shaped the global order.

Mr Trump said the “reciprocal tariffs” were a response to tariff and non-tariff barriers that countries had imposed on US goods, and that the new taxes would boost domestic manufacturing jobs.

Outside economists have warned that tariffs could slow global economic growth, increase the risk of recession and raise the cost of living for the average American family by thousands of dollars.

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Source: https://tuoitre.vn/my-ap-thue-ca-the-gioi-bo-truong-bessent-goi-y-thue-quan-khong-phai-vinh-vien-20250403070707937.htm