Source: Orange County Register
by Matt Fleming
“Throughout his time as Treasury Secretary, Scott Bessent has regularly fought against claims that the tariffs adored by his boss, President Donald Trump, are really just taxes on consumers. ‘Tariffs are a surcharge, not a tax,’ Bessent told a reporter this week. ‘They could be paid by the exporter, they could be paid by the country.’ Bessent likely thinks that’s a great point, but he shouldn’t drop the mic just yet. Regardless of the word games, Americans are suffering from the end result. We are paying higher prices as a result of Trump’s tariffs. According to analysis from the Tax Foundation, Trump’s tariffs have raised consumer prices by 4.9 percentage points. … make no mistake: tariffs are taxes.” (10/26/25)