“Right, and then the importer can pass it on or not.”
Not only is Bessent doing everything in his power to avoid the truth of the situation—U.S. importers foot the bill here—he’s also spinning pipe dreams regarding the likelihood of American companies or other countries willingly volunteering to “eat part of the cost.” Trump’s tariffs will raise prices on importers, and those importers will pass those prices on to consumers. Products from Brazil, India, and countless other countries will grow more expensive. Trump has already publicly feuded with Walmart after the corporation said it would refuse to eat tariff costs and would raise prices.
“Walmart should STOP trying to blame Tariffs as the reason for raising prices throughout the chain. Walmart made BILLIONS OF DOLLARS last year, far more than expected,” Trump wrote in May. “Between Walmart and China they should, as is said, ‘EAT THE TARIFFS,’ and not charge valued customers ANYTHING. I’ll be watching, and so will your customers!!!”
