Treasury Chief Warns Foreign Nations Not to Retaliate Over Liberation Day Tariffs

Treasury Secretary Scott Bessent delivered a direct warning to foreign governments Wednesday after President Donald Trump unveiled his sweeping “Liberation Day” tariff strategy “Do not retaliate.”

Speaking on Fox News shortly after Trump signed the historic executive order, Bessent cautioned that countries considering countermeasures would face escalation from the United States. The message is clear: America is no longer going to be the punching bag of the global trade system and there will be consequences for those who try to preserve the old order.

“If you retaliate, there will be escalation. If you don't retaliate, this is the high-water mark,” Bessent said bluntly on Special Report. “Sit back, take it in, let’s see how it goes.”

Trump’s move includes:

• A 10% baseline tariff on all imports, taking effect this Saturday

• Targeted reciprocal tariffs hitting China (34%), the EU (20%), Japan (24%), and Taiwan (32%) starting April 9

• An escalated 54% tariff on Chinese goods, combining a new 34% rate with an existing 20% penalty

These tariffs are designed to correct years of abusive trade policies that have destroyed American jobs, inflated the trade deficit, and given foreign competitors massive advantages.

Interestingly, Mexico, Canada, Russia, and Belarus were left off the immediate tariff list. Bessent clarified that Russia and Belarus are already sanctioned and have little trade with the U.S. However, U.S. government data from 2024 still shows $3.5 billion in trade with Russia proof that the Biden administration’s sanctions were, like most of its policies, ineffective and full of loopholes.

“We are putting ourselves back onto a sound trajectory,” Bessent said, emphasizing that the tariffs are about long-term American prosperity, not short-term political maneuvering.

He also took aim at the Biden administration’s reckless economic mismanagement, pointing to runaway inflation, bloated spending, and crushing debt as symptoms of a government that abandoned economic common sense.

Bessent also noted that Congress is working to make the Trump 2017 tax cuts permanent, giving businesses and families the certainty they need to invest, hire, and grow.

“The sooner we can get certainty on tax, the sooner we can set the stage for the growth to resume.”

Meanwhile, foreign leaders are already sounding the alarm. From France to Brussels, globalists are rattled by the thought of losing their one-sided trade perks. But that’s exactly why these tariffs are necessary.

The U.S. has run massive trade deficits year after year $235.6 billion with the EU in 2024 alone. Trump’s administration is finally saying enough is enough.

Liberation Day isn’t just a slogan it’s a turning point. The world got rich off America. Now, we’re reclaiming our wealth, our jobs, and our future.

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