Treasury Chief Scott Bessent admits: Americans, not foreigners, are paying Trump’s tariffs

Scott Bessent Trump tariff statement: As the clock struck midnight on Thursday, a sweeping round of new retaliatory tariffs imposed by US president Donald Trump officially went into effect, impacting imports from dozens of countries, as per a report. But just hours later, a quiet truth surfaced on live television: it’s not foreign governments paying Trump's tariffs, it is Americans who will have to pay for it, according to a Rolling Stone report.

Treasury Secretary Quietly Confirms Who’s Actually Paying Trump's Tariffs

In an appearance on MSNBC, US treasury secretary Scott Bessent indirectly acknowledged that American importers and, ultimately, consumers are the ones paying for the newly imposed tariffs, as per the report. The admission came not long after Trump posted enthusiastically on his social media site Truth Social, writing, “IT’S MIDNIGHT!!! BILLIONS OF DOLLARS IN TARIFFS ARE NOW FLOWING INTO THE UNITED STATES OF AMERICA!” as quoted by Rolling Stone.

He added in a follow-up post that, “Tariffs are flowing into the USA at levels not thought even possible,” as quoted in the report.


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Who Writes the Check?

On MSNBC, host Eugene Robinson asked Bessent directly who is responsible for paying the new 50% tariff on imports from countries like Brazil, according to the report. Robinson asked, “So if someone here, an importer, wants to buy Brazilian products today or tomorrow and import them, they’re going to pay 50 percent to the Treasury, and so who writes that check,” as quoted in the Rolling Stone report.

Bessent first tried to deflect by suggesting that importers could turn to substitutes from other countries, according to the report. But when pressed further, by Robinson to clarify “who writes the check to the Treasury,” if the product does come from a tariffed nation like Brazil, as per Rolling Stone.

The treasury secretary admitted, “Well, the check is written to the person who receives it at the dock, in the U.S," as quoted in the report.

The host asked for more clarification: “The check is written by the person, the receiver. So the tariff is paid in this country by the importer. Is that right?”

Bessent then said that the exporter could lower their price to retain market share, but Robinson pressed again: “But the check is written by the importer, at the dock?," as quoted by Rolling Stone.

Finally, Bessent responded, saying, “Yep,” adding, “And the importer can pass it on or not,” as quoted in the report.

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Economists Say Tariffs Act Like a Tax on Americans

Despite the president’s narrative that tariffs are a way to make foreign countries “pay,” economists have long said otherwise, that tariffs function as a tax on domestic buyers, as per Rolling Stone. It is the US importers and their customers who shoulder the cost, according to the report.

Long-time Trump Supporter Urges Him to Stop Tariffs

Even a long-time Trump ally, Stephen Moore, said that “Sometimes Trump can’t stand prosperity,” adding, “My advice to Trump is to stop with the tariffs. We don’t need tariffs right now. … When I see him, he knows my position; every time he sees me, he says: ‘There’s Steve Moore! He doesn’t like tariffs!’ This will hopefully get the administration to back off of the tariffs,” as quoted in the Rolling Stone report.

FAQs

Why did President Trump impose these tariffs?
Trump claims the tariffs will bring money into the US and punish countries that "took advantage" of America through trade.

Who actually pays for these tariffs?
Despite Trump’s claims, US importers, American businesses,pay the tariffs when goods arrive at US ports.