Democrat presses Bessent: Who pays tariffs?

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Democrat presses Bessent: Who pays tariffs? | CNN Politics

//politics-government.news-articles.net/content/ .. esses-bessent-who-pays-tariffs-cnn-politics.html

Published in Politics and Government on Tuesday, May 6th 2025 at 16:20 GMT by CNN
^{🞛 This publication is a summary or evaluation of another publication 🞛 This publication contains editorial commentary or bias from the source}

During an oversight hearing, Rep. Mark Pocan (D-WI) pressed Treasury Secretary Scott Bessent over who pays the tariffs imposed by President Trump. American businesses that import goods initially pay tariffs, and businesses may then pass on some or all of the cost on to consumers through higher prices.

Scott Bessent, a former Trump campaign economic adviser, argued on CNN that the tariffs imposed by former President Donald Trump were beneficial for the U.S. economy, claiming they helped reduce the trade deficit with China and supported American manufacturing jobs. However, Representative Mark Pocan (D-WI) countered Bessent's claims, stating that the tariffs actually increased costs for American consumers and businesses, leading to a net negative impact on the economy. Pocan highlighted that the tariffs resulted in higher prices for goods and retaliatory measures from China, which hurt U.S. farmers and other industries. The debate underscores the ongoing contention over the effectiveness and consequences of Trump's tariff policies.

Read the Full CNN Article at:
[ https://www.cnn.com/2025/05/06/politics/video/scott-bessent-pocan-trump-tariffs-cost-digvid ]