Exchange of the Day

Treasury Secretary Scott Bessent was interviewed on Meet the Press by Kristen Welker:

WELKER: Hasbro says they’re going to have to increase their prices. Goldman Sachs says 86% of the tariff revenue collected so far has been paid by American businesses and consumers. So just bottom line, Mr. Secretary, do you acknowledge that these tariffs are a tax on American consumers?

BESSENT: No, I don’t.

WELKER: Even though you have companies saying they are going to have to increase prices, and given the fact that 86% of these tariffs so far have been paid by Americans.

BESSENT: No, no, no, no, no, you’re quoting Goldman Sachs. 

WELKER: Yes, Goldman Sachs. That’s correct, which I said, yeah. 

BESSENT:  I made a good career of trading against Goldman Sachs.