In a special report on Fox News Channel on Tuesday, Treasury Secretary Scott Bessent said “customer tariffs can bring significant revenue to the government,” but also negotiating trade fairness, including the like. It is also used in other things. Something like fentanyl and he believes that “most” of the tariff costs will be handed over to consumers.
host Brett Baier asked. [relevant exchange begins around 7:05] “Are you planning to pay for what comes in? And how will that be a factor in the tariffs being handed over to consumers?”
“President Trump uses tariffs unlike modern presidents. And we think of three ways to do that: one could be government revenue. Two. can make trade fairs, because many of our trading partners don't treat us fairly. And three, President Trump, as you saw with Mexico, he is with Colombia and They use them for negotiations in the same way. Therefore, tariffs can bring substantial revenue to the government. Therefore, for example, a 10% global tariff will bring 2.5 trillion in ten years. It must be.”
Baier asked, “But if you're fighting inflation at the same time, what does that mean for consumers?”
“I don't think we're going to pass that on to consumers in what we hear and see. I think the currency is being adjusted. China in particular, the other side has exported companies. I think the dealers are trying to eat a lot of costs. If it goes down, Inflation is a 2% target of 2%, and perhaps less, as we saw in President Trump's first term.”
to follow Ian Hunchet on Twitter @ianhanchett
