On Tuesday’s broadcast of the Fox News Channel’s “Special Report,” Treasury Secretary Scott Bessent said that “the tariffs could bring in a substantial amount of revenue for the government” but they’re also used for other things like making trade fairer and negotiating on things like fentanyl and he believes that “very little” of the cost of tariffs will be passed on to consumers.
Host Bret Baier asked, [relevant exchange begins around 7:05] “Do you plan to pay for things with tariffs coming in? And how does that factor into tariffs possibly being passed on to consumers?”
Bessent answered, “President Trump uses tariffs unlike any president in modern times. And, we think about it three ways: One can be revenues for the government. Two can be to make trade fair. Because a lot of our trading partners do not treat us fairly. And three, President Trump uses…
