Treasury Secretary Scott Bessent acknowledged that President Donald Trump's tariffs resulted in "price increases."
During a Sunday interview on Fox News, host Shannon Bream told the Trump official that "a JPMorgan Chase Institute analysis finds a critical group of U.S. employers would face a direct cost of $82.3 billion from President Donald Trump's current tariff plans."
"Our most recent poll shows that 57% of Americans do think the tariffs are gonna hurt the U.S. economy," she noted. "What's your message to them?"
"Well, I think there's a lot of misinformation out there," Bessent complained. "I think TDS, Trump Derangement Syndrome, has turned into Tariff Derangement Syndrome. As soon as you call them the Trump tariffs, 90% of Democrats hate them."
"And, Shannon, there's a big difference in inflation and one-time price adjustment also," he continued. "And thus far, we haven't even seen the one-time price adjustment."
"What we are seeing the business model for many of our trading partners, especially in Southeast Asia, is to produce produce produce and the manufacturers in those countries are taking the price increases into — or the tariffs — into their margins."
Watch the video below from Fox News or at the link.
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