U.S. Treasury Secretary denies Trump tariffs are taxes on Americans | Trump tariffs

U.S. Treasury Secretary Scott Bessent refused to admit it. Donald Trump Taxes are paid to Americans all over the world.

In a new interview with NBC host Kristen Welker on Sunday, former billionaire hedge fund manager Bessent dismissed concerns from major U.S. companies including John Deere, Nike and Black and Decker, who all said Trump’s tariff policies cost billions of dollars each year.

Speaking to Welker, Bessent said: “You are getting these calls from revenue calls, and in revenue calls, they have to give harsh scenarios. No company comes out and says: “Oh, we’re doing this because of the tariffs.” ””

He went on to add, “If the situation is so bad, why is GDP 3.3%? Why is the stock market at a new high? Because, you know, with President Trump, we all care about big companies and small companies.”

As a concern Continue to grow As American companies try to transfer the fees of U.S. tariffs to everyday Americans, Welk asked: “Do you admit these tariffs are attacks on American consumers?” Bessent replied: “No, I don’t.”

Bessent’s latest interview follows a federal appeals court ruling Established Trump imposed shockwave tariffs on dozens of countries earlier this year, which put his presidential powers beyond his presidential powers.

Tariffs set a 10% benchmark for almost all trading partners in the United States. Trump also imposed so-called “reciprocity” tariffs on countries he accused of unfair treatment of trade. Lesotho is a South African country with 2.3 million people 50% tariff, And so is Trump Imposed A group of uninhabited islands have 10% tariffs on the residences of penguins near Antarctica.

In response to a federal appeals court ruling, the Trump administration has recently had ask The U.S. Supreme Court overturned the ruling.

Talking about whether Trump administration If the Supreme Court is targeting the government’s rules, Becente said: “We will have to refund about half of the tariffs, which is terrible for the Treasury…not being “prepared”. If the court says, we have to do that.”

Still, Bessent has confidence that the conservative majority of the Supreme Court will stand with the Trump administration, saying: “I am confident that we will win in the Supreme Court. But there are many other ways we can take. We can take many other ways. They weaken President Trump’s negotiating stance… It has nothing to do with the dollar. It’s balanced with the dollar. It’s balanced.

Bessent’s comments also follow the newly released data from the Bureau of Labor Statistics reveal In August, 12,000 manufacturing jobs were lost in August, marking 42,000 jobs since Trump announced the announcement in April.

“Does these figures prove that tariffs failed to do the manufacturing jobs that President Trump promised?” Welk asked Best, who replied: “It’s been months. With manufacturing… we can’t stretch our fingers and build factories.”

Bessent went on to add that he believes “by the fourth quarter, we will see a substantial acceleration.”

In addition to the decline in manufacturing employment since April, job openings and employees have dropped by 76,000 and 18,000 respectively. according to Center for American Progress.

According to economists, Trump’s tariffs are expected to cost US households $2,400 a year, while wage growth for manufacturing workers remains under the tariffs.

The center reported that in August, the average hourly averaged $35.50, an increase of just 10 cents from July.