Trump Tariff impact : US Treasury Secretary Scott Bessent stated Monday that he was not concerned “at this time” about American stores potentially running out of merchandise as a result of President Donald Trump’s tariffs.
Trump Tariff impact information
The US president has imposed a 10 percent baseline tax on most countries, as well as a much higher levy of 145 percent on Chinese imports.
The White House also imposed 25 percent sector-specific tariffs and threatened to reimpose stronger measures on dozens of trading partners if they did not strike an agreement to lessen trade barriers with the United States.
During an appearance with “Fox and Friends,” Bessent was asked if he was concerned about stories of bare shelves owing to tariffs, and he said, “Not at this time.”
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“We have some excellent retailers,” he stated in a Fox News interview. “I assume they pre-ordered.”
“I believe we’ll see some elasticities. I believe we will see replacements and then see how quickly the Chinese want to de-escalate.”
The majority of countries elected not to respond to the Trump administration’s additional tariffs, with the exception of China, which retaliated with targeted measures against US imports.
Beijing has declared reciprocal tariffs
Beijing has declared reciprocal tariffs of up to 15% on US agricultural products such as soybeans, corn, and beef, as well as a minimum 125 percent sweeping duty on all US imports.
“I suspect it’s untenable from the Chinese side, so maybe they’ll call me one day,” Bessent told the audience.
“In the history of negotiations about trade or trade delays, it is the surplus country that always loses the most,” according to him.
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