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United States Treasury Secretary Scott Bessent has recommended that countries do not panic over the announcement of tariffs by US President Donald Trump.
“I advise countries not to retaliate,” the secretary said in an interview with Bloomberg TV on Wednesday. The representative said he believes that the rates announced for China are accumulative
“I think they are cumulative,” said Bessent.
United States President Donald Trump announced today a minimum 10% rate on imports from all countries. However, nations that apply rates considered “high” against American products will face even higher rates. For China, the rate cited was 34%.
“Tariffs are higher than we have today and will certainly raise the recipe,” said Bessent.
