US EditionTrump Administration Admits Americans Are Paying for Tariffs
- On May 18, 2025, Treasury Secretary Scott Bessent acknowledged that tariffs previously implemented are causing higher prices for U.S. Consumers.
- This admission follows years of claims that foreign countries absorbed tariff costs, but recent evidence shows U.S. Households bear the financial burden.
- Retailers including Walmart have announced price increases linked to tariffs, despite absorbing some costs, while cheaper gas somewhat offsets overall price pressure.
- Treasury Secretary Scott Bessent noted that although retailers such as Walmart might cover some of the increased expenses themselves, the additional costs are expected to be largely passed on to shoppers, with estimates indicating that the average household could see over $2,300 in extra yearly expenses.
- This development indicates that tariffs represent a significant tax on American consumers, posing challenges for household budgets and economic policies ahead.
23 Articles
23 Articles
Trump admits he was lying about the tariffs
This one will be short and sweet. I haven’t seen it mentioned yet, but by time I’m finished typing it, there will probably be dozens of versions out there. How may times has the orange-masked icon of mendacity told us that foreign countries will be...
What do tariffs mean for American farmers?
Stripped back from policy and political implications, tariffs are a tax on imports. They are used as a trade barrier to make imported goods artificially more expensive than goods produced domestically. So a company importing a good to the U.S. would pay a tariff to the U.S. Customs and Border Protection agency. The cost that a company pays to import a good is then (most often) passed on to consumers in the form of higher prices for that good. Th…
Transportation secretary sold stocks two days before Trump announced reciprocal tariffs plan
President Donald Trump pictured with then-Congressman Sean Duffy in the Oval Office of the White House. Duffy was Trump's pick to lead the U.S. Department of Transportation. (Photo from Sean Duffy's congressional Instagram account) Two days before President Donald Trump announced dramatic plans for “reciprocal” tariffs on foreign imports, Transportation Secretary Sean Duffy sold stock in almost three dozen companies, according to records reviewe…
Conservative David Frum nails tariffs: A shift of the cost of government from the rich to the poor.
David Frum, in a near-perfect analysis, rips Trump's tariffs for forcing the poor to pay for the government, continuing the wealthy's parasitic nature. The post Conservative David Frum nails tariffs: A shift of the cost of government from the rich to the poor. appeared first on EgbertoWillies.com.
Georgia Public Broadcasting
Trump has imposed a lot of tariffs. But here's why collecting them can be hard
Collecting Trump's tariffs could be tricky. The agencies that screen imports say they're frequently overwhelmed and understaffed, and experts say exporters are becoming cannier at evading taxes.
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