Treasury Sec Bessent says that tariffs won’t cause inflation “because China will eat any tariffs that go on”, Mexico also matching tariffs on China

[Morrison71]

This was supposedly one of the better/smarter cabinet picks.

Treasury Secretary Bessent says Trump tariffs won't cause inflation to increase

The Treasury secretary's comments come just two days before the tariffs are scheduled to go into effect.

www.cnbc.com

Treasury Secretary Scott Bessent said Sunday that President Donald Trump's proposed tariffs are unlikely to raise inflation, in part because China will "eat any tariffs that go on."

Bessent's comments come just two days before the tariffs are scheduled to go into effect on Tuesday. Trump is expected to impose 25% tariffs on imports from Mexico and Canada. The president also announced the U.S. would impose an extra 10% duty on Chinese imports, on top of the 10% tariff he levied on the country on Feb. 4.

"China will pay for the tariffs because their business model is exporting their way out of this inflation."

"They will eat any tariffs that go on," Bessent added.

Bessent was asked Sunday about his comments that Mexico has proposed matching the U.S. tariffs on China to avoid being hit with Trump's tariffs. He also urged Canada to follow Mexico's proposal.

"We'll see. The Mexican leadership has offered to do that," Bessent said. "We haven't heard from the Canadians, but I think that would be a very good start."

He added that announcements from the countries [on matching tariffs] could come on Tuesday, "or maybe the tariff wall goes up, and then we see what happens from there."

 

[HROT]

He really is dumb. I’ve caught him numerous times on the financial shows pumping his rhetoric. J Powell has to be drinking

 

[mthawkeyes]

Well that settles that. Good enough for me.

 

[hawkeyetraveler]

Huh. I know a number of business leaders planning to pass the tariffs along, but I guess those must be outliers…right MAGA peeps?

 

[Gimmered]

China never sees the tariffs, the importer sees the tariffs. Tariffs are collected when the product hits US customs. So glad Trump brings in only the best.

 

[praguehawk]

I’m gonna drop a JFC here. Man that is some prime grade BS.

 

[SolarHawk]

He’s nothing more than a Trump shill who has bent the knee. Complete clown this morning on morning news. Nothing he said could be considered logical.