Scott Bessent confirmed that Americans pay the tariffs imposed on imports by President Trump. While tariffs have fluctuated, the responsibility for payment lies with U.S. importers, not exporting nations. Bessent explained that when products are imported, the importer writes the check for tariffs to the Treasury. Furthermore, exporters like those in Brazil may choose to reduce prices to keep market share, absorbing some of the tariff costs themselves. This dynamic affects how tariffs influence the market and pricing strategies in international trade.
The tariffs imposed by President Donald Trump on imports are ultimately paid by American companies that import the products, not by the exporting countries.
Scott Bessent stated that the check for tariffs is written by the person who receives the goods at the dock, indicating that U.S. importers bear the cost.
Bessent noted that Brazilian exporters might choose to lower their prices to maintain market share, which could result in them absorbing part of the tariff costs.
The fluctuation of tariffs imposed by Trump reflects the complexity of international trade, where companies and countries must navigate changing import costs.
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