US treasury secretary denies Trump tariffs are tax on Americans
Source: The Guardian
Sun 7 Sep 2025 17.02 EDT
Last modified on Mon 8 Sep 2025 07.10 EDT
US treasury secretary Scott Bessent has refused to acknowledge that the sweeping trade tariffs imposed by Donald Trump around the world are taxes on Americans.
In a new interview on Sunday with NBC host Kristen Welker, Bessent, a former billionaire hedge fund manager, dismissed concerns from major American companies including John Deere, Nike and Black and Decker who have all said that Trumps tariffs policy will cost them billions of dollars annually.
Addressing Welker, Bessent said: Youre taking these from earnings calls, and on earnings calls, they have to give the draconian scenario. There arent companies coming out and saying, Oh, because of the tariffs, were doing this. He went on to add: If things are so bad, why was the GDP 3.3%? Why is the stock market at a new high? Because, you know, with President Trump, we care both about big companies and small companies.
As concerns continue to grow over American companies trying to pass on the cost of US tariffs on to everyday Americans, Welker asked: Do you acknowledge that these tariffs are attacks on American consumers? To which Bessent replied: No, I dont.
Read more: https://www.theguardian.com/us-news/2025/sep/07/us-treasury-secretary-trump-tariffs

marble falls
(73,385 posts)Brainfodder
(7,781 posts)popsdenver
(2,768 posts)Between Republican Politicians, along with all those in Trump's CABAL, and a crack whore street walker????????
The Crack Whore Street Walkers have things they absolutely, positively,.... will NOT DO,..... for ANY AMOUNT OF MONEY.......
Seriously !!!!!!!!!!!!!!!!!!! Especially the entire group of Republican Women that surround Trump and fawn over him constantly......
Brainfodder
(7,781 posts)popsdenver
(2,768 posts)where they all don't know......... HOW NOT TO LIE................
Lovie777
(24,318 posts)can they ever tell the truth.
RazorbackExpat
(990 posts)is like garlic and silver bullets to a vampire
BootinUp
(51,761 posts)Hey Joe
(880 posts)who brings to mind the phrase-
The banality of evil.
He could give a shit about average working people since he has never known work.
Hedge fund manager indeed.
Karasu
(2,279 posts)agingdem
(9,024 posts)Trump's people, the assholes who refused to vote for a woman/a black woman, the same people who were gleefully anticipating Trump "owning the libs" are the same racist idiots feeling the pain of Trump's tariffs...generational farms going bust, homebuilders unable to sell their homes on the ground/new cars sitting unsold on the lot...Trump and his emissaries attempts to gaslight the "benefits" of tariffs don't work when his die-hard voters can't afford groceries/school supplies/clothing..
House of Roberts
(6,715 posts)When all the gains/wealth go to the top, the only place the money goes is into investment. That giant sucking sound Perot referenced was actually all the money being sucked up by the wealthiest from the rest of us.
BumRushDaShow
(173,284 posts)They have been putting almost all of their betting "chips" (literal and figurative) into the "AI" bubble, and on any industries that support that.
Hugin
(38,088 posts)The biggest economic heat sink in history.
BumRushDaShow
(173,284 posts)not only as a fiat for exchange, but like AI, for the industries that create the facilities that "mine" it.
House of Roberts
(6,715 posts)is always going to turn into a bubble. That's why they call it a boom, bubble, bust cycle every time the wealthy get too much.
BumRushDaShow
(173,284 posts)because apparently some of the survivors of the dotcoms are going full on insane with this now and have managed to steal the money from the peons to be able to do it.
House of Roberts
(6,715 posts)Like any investment scam, it's knowing not to stay too long and be the one left holding the 'hot potato'. If you're not privy to when that is, you're better off not playing.
BumRushDaShow
(173,284 posts)that both Microsoft and Apple have been a bit tepid on it (and are getting pummeled by the "tech business" media).
Meta (Facebook, etc) and Alphabet (Google, etc) have gone all in.
FakeNoose
(42,896 posts)After they've crashed our economy to smithereens and shut down all of our banks, how much is their crypto going to actually be worth? If Ross Perot were still live today, he'd have his hands in it too. I'm sure of it. He just wouldn't tell anybody.
Historic NY
(40,184 posts)lark
(26,136 posts)Authortarian fluffers and truth deniners.
wolfie001
(8,147 posts)Also, tRUMP bootlicker. Not much else to say.
cstanleytech
(28,687 posts)Of course if you redirect all of the money towards National Free Healthcare system I willing to reconsider it.
republianmushroom
(22,883 posts)Shove it dude.
OLDMDDEM
(3,328 posts)Pas-de-Calais
(10,298 posts)BaronChocula
(4,942 posts)That tariffs are paid by the importer and not by the exporter so...
Wiz Imp
(10,726 posts)Um, yes there are. Tons of them.
https://thehill.com/opinion/5294769-small-business-owners-fight-tariffs/
Tariffs will mean the end for my small business
https://www.cbsnews.com/texas/news/small-business-owner-worries-trumps-tariffs-may-force-her-store-to-close-its-doors/
Small business owner worries Trump's tariffs may force her store to close its doors
https://www.syracuse.com/business/2025/04/trump-tariffs-crippled-us-small-business-on-canada-border-its-now-closing.html
Trump tariffs crippled US small business on Canada border: Its now closing
https://www.facebook.com/fox12oregon/posts/a-local-business-says-they-will-be-forced-to-close-because-of-president-trumps-t/1090767576424488/
A local business says they will be forced to close because of President Trumps tariffs on China.
https://www.cato.org/commentary/here-are-202-companies-hurt-trumps-tariffs
Here Are 202 Companies Hurt by Trumps Tariffs
https://www.americanprogress.org/article/the-trump-administrations-trade-wars-are-crushing-u-s-small-businesses/
The Trump Administrations Trade Wars Are Crushing U.S. Small Businesses
mdbl
(8,938 posts)Bessent has it down. He has proven he has no ethics, scruples or morals. Perfect maga-man.