Trump Cabinet Member Clarifies Tariffs
Treasury Secretary Scott Bessent emphasized that tariffs are not a tax, but rather a "surcharge" or a "fee".
During a press conference, Jon Decker of Gray Television asked about the nature of President Donald Trump's tariffs, wondering if they constituted a tax on imported goods.
Well, that's easy, because tariffs are a surcharge, not a tax.
Bessent explained that tariffs could be paid by the exporter or the country, drawing an analogy to paying a fee for a driver's license.
The U.S. Supreme Court is set to decide on President Trump's authority to impose widespread tariffs.
Author's summary: Treasury Secretary clarifies tariffs as surcharges.
- Tariffs are considered a surcharge or fee, not a tax.
- The U.S. Supreme Court will decide on President Trump's authority to impose tariffs.