US EditionTrump fumes and again insists companies pay tariffs not consumers as he bashes criticism of his plan
Tariffs generated $29 billion last month, but revenue comes from American importers and consumers amid concerns over inflation and a weakening dollar.
- On August 13, 2025, President Trump defended his tariff policy amid criticism from Goldman Sachs CEO David Solomon and others.
- Trump’s tariff policy aims to boost domestic production and revenue, with $29 billion collected last month and expectations of up to $1 trillion yearly.
- Solomon warned in May that policy uncertainty from tariffs harms investment and growth, causing companies to delay spending and consider layoffs.
- Trump claimed tariffs increased national wealth, stock market value, and Treasury funds without triggering inflation, calling it "incredible for our Country."
- Despite rising revenues, experts highlight emerging problems like a weakening dollar and job market struggles, suggesting tariff benefits may come with costs.
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‘Focus on being a DJ’: Trump tears into Goldman Sachs CEO David Solomon over tariffs
Trump argued that the burden of tariffs had largely fallen on companies and foreign governments, not American consumers, challenging the idea that US households ultimately pay for such measures.
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Total News Sources3
Leaning Left3Leaning Right0Center0Last UpdatedBias Distribution100% Left
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- 100% of the sources lean Left
100% Left
L 100%
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