"Bessent immediately criticized the source. First of all, Kristen, if you're quoting The New York Times, it's not a fair observer, Bessent said. But, these are statistics, Welker pushed back. This is about John Deere, not about The New York Times. Bessent continued to bash The Times, saying John Deere was just one company the outlet cherry-picked. He claimed that the Treasury Department was hearing overwhelmingly from companies who are telling us the tariffs have helped our business."
"But, Mr. Secretary, it's not just John Deere, Welker said. Nike says the tariffs will cost the company around $1 billion this year. Black & Decker says $800 million. The Big Three automakers all say they've had to pay more than $2 billion in tariffs, the list goes on and on. Do you acknowledge that these tariffs amount to a tax on the American people?"
Kristen Welker pressed Treasury Secretary Scott Bessent with examples of U.S. companies reporting tariff-related damage, citing a New York Times report that John Deere lost $300 million and laid off 238 employees. Bessent criticized the Times, called John Deere a cherry-picked example, and said Treasury hears many companies saying tariffs helped their business. Welker listed Nike, Black & Decker, and the Big Three automakers reporting billions in costs and asked whether tariffs function as a tax on Americans. Bessent replied some foreign automakers absorb tariffs and pointed to increased U.S. investments from firms like Micron and Apple.
Read at www.mediaite.com
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