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.
11 Articles
11 Articles
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.
6 in 10 Americans disapprove of Trump's economy
President Trump is pressuring Walmart to "eat the cost" of tariffs. Also, Treasury Secretary Scott Bessent admitted that tariffs are being paid by Americans. NBC News' Christine Romans explains more. Former Rep. Max Rose and The Nation National Affairs Correspondent John Nichols join Katy Tur to discuss the impact of the trade war.
Pressured by senators, Greer says Trump not considering tariff exemptions
The president is not considering exemptions to his “reciprocal” tariffs despite suggestions from other administration officials that he is, U.S. Trade Representative Jamieson Greer has told the Senate Finance Committee. In answers to questions for the record posed by Finance members following his April 8 hearing, Greer said the only products exempted are those that are or could be subject to remedies under Section 232 of the Trade Expansion Act …
Trump Administration Admits Americans Are Paying for Tariffs
The Trump administration publicly acknowledged this weekend that U.S. consumers are bearing the brunt of... The post Trump Administration Admits Americans Are Paying for Tariffs appeared first on News Facts Network.
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