US EditionDemocrat presses Bessent: Who pays tariffs?
- During Tuesday's House Appropriations hearing, Representative Mark Pocan questioned Treasury Secretary Scott Bessent about who ultimately pays tariffs on Chinese imports.
- The interrogation followed the Trump administration's imposition of tariffs up to 145% aimed at reducing the trade deficit, though economists and politicians differ on who bears the cost.
- Bessent hesitated and avoided giving a direct answer, prompting Pocan and others to argue that American consumers and businesses absorb most tariff costs through higher prices.
- Experts and panelists, including Ken Martin and economist Rodrigo Ado, emphasized that tariffs act as a tax on hardworking Americans, with small businesses facing significant financial burdens.
- This exchange highlights ongoing debates about tariff policy effects and signals political challenges in justifying tariff impacts amid rising costs for American consumers and firms.
8 Articles
8 Articles
'That's depressing': MSNBC hosts stunned as Trump official 'evades' a simple question
MSNBC host Mika Brzezinski was left stunned and speechless on Wednesday morning after listening to a sound bite of Treasury Secretary Scott Bessent avoiding answering questions about who pays tariffs.“Answer the questions I asked, please. I only have five minutes. Who pays tariffs?” Congressman Mark...
Peter Schiff Says Scott Bessent 'Knows The Answer' To Congress' 'Who Pays Tariffs' Question, Calls Treasury Chief 'A Very Smart Man'
Economist Peter Schiff called Treasury Secretary Scott Bessent "a very smart man" after a viral hearing clip showed the Cabinet official stumbling over a simple question about who ultimately pays U.S. tariffs. What Happened: "Our Treasury Secretary Scott Bessent is a very smart man. He's not the blubbering idiot shown in this clip … He is stammering because he is struggling to formulate a BS explanation," Schiff wrote on X. Our Treasury Secreta…
Treasury secretary refuses to answer easy question: Who pays tariffs?
Democratic Rep. Mark Pocan of Wisconsin delivered some thunder to a House Oversight Committee hearing Tuesday, pressing Treasury Secretary Scott Bessent over the true impact of President Donald Trump’s ill-conceived tariff policies. “Who pays tariffs?”...
Democrat presses Bessent: Who pays tariffs?
During an oversight hearing, Rep. Mark Pocan (D-WI) pressed Treasury Secretary Scott Bessent over who pays the tariffs imposed by President Trump. American businesses that import goods initially pay tariffs, and businesses may then pass on some or all of the cost on to consumers through higher prices.
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