The USA is introducing tariffs of 20 percent on goods from the EU, announced Trump on Wednesday evening.
Take a step back, take it in, let's see how it goes. Because if you retaliate, it will escalate. If you don't retaliate, this is the "high-water mark", says Bessent after the tariff announcement.
The USA will introduce sweeping import tariffs of at least 10 percent against a large number of countries worldwide. Major trading partners such as the EU and China will be harder hit.
Several world leaders describe Trump's move as a trade war and have promised to respond proportionally. Others have announced that they hope to reach a "deal" with the American president to reduce the tariff rate.
Finance Minister Scott Bessent suggests that Trump is open to negotiations, but that the USA will now wait and see where it all ends up.
We'll see where it takes us from here, he says to Bloomberg.
