In the wake of the sweeping “Liberation Day” tariff package unveiled by the White House, Treasury Secretary Mary Bessent is urging America’s trading partners to refrain from retaliation, emphasizing the administration’s desire for economic rebalancing rather than confrontation.
Speaking at a press conference in Washington, Bessent defended the tariff expansion as a necessary corrective measure to longstanding trade inequities that, she argued, have disadvantaged U.S. workers and industries for decades. The new tariffs, announced earlier this week by President Donald Trump, target a wide range of imported goods, including automobiles, electronics, and industrial materials from countries with persistent trade surpluses against the United States.
Bessent acknowledged concerns from global markets and foreign governments but maintained that the administration’s actions are lawful and aligned with existing trade frameworks. “These measures are about fairness, not punishment,” she said. “We strongly encourage our partners to work with us toward mutually beneficial solutions instead of responding with retaliatory steps that could escalate tensions.”
Several nations affected by the new tariffs have expressed frustration, with some hinting at countermeasures if diplomatic talks fail. European and Asian trade officials have already requested consultations with U.S. representatives through international trade bodies.
Bessent reiterated that the administration remains open to dialogue and bilateral negotiations but emphasized that any return to previous trade conditions would require concrete commitments to address tariff imbalances and what she called “unrestricted access to American markets without reciprocity.”
Markets have shown signs of volatility following the tariff announcement, with some sectors facing increased pressure amid uncertainty over supply chains and import costs. Business leaders across industries have called for clarity on implementation timelines and exemptions, especially for critical manufacturing components.
In her remarks, Bessent assured domestic companies that the Treasury Department and related agencies are coordinating efforts to ease the transition and monitor economic impacts closely. She also confirmed that further economic support programs are under consideration to shield small businesses from short-term disruptions.
As negotiations begin to unfold on the global stage, the Treasury Secretary emphasized the administration’s goal of fostering long-term economic security, encouraging countries to “join the U.S. in reshaping a trade system that is sustainable, accountable, and fair to all.”