Treasury Secretary Scott Bessent has warned countries to avoid retaliating against the United States after President Donald Trump announced a broad swath of tariffs of at least 10 percent on all imports into the country.
“My advice to every country right now is do not retaliate. 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-water mark,” Bessent told Fox News’s “Special Report” on Wednesday evening.
Baier then asked Bessent about the message the administration has for individuals concerned about their retirement plans, including 401(k)s or Roth IRAs, in light of the tariffs. On Thursday morning, major U.S. stock indexes dropped, with the Dow Jones Industrial Average plunging by 1,500 points at one point….