US Secretary of Scott Bessent Treasury speaks at the White House in Washington on February 3, 2025.
Elizabeth France | Reuters
Scott Besent’s Treasury Secretary said on Sunday that he was president Donald Trump The proposed tariffs are unlikely to raise inflation, partly because China “will eat all the tariffs they continue.”
Besenti comments only come for two days before the tariffs came into force on Tuesday. Trump Is expected to impose 25% of tariffs on imports from Mexico and Canada. The President also announced that the US would impose an additional 10% duties of Chinese import, with 10% of the tariff he charged in the country on February 4th.
Some economists have expressed concern o The possibility of tariffs can lead to an increase in inflation and Keep interest rates elevated at 2026..
Bessent asked in an interview with CBS “Face the Nation” what kind of tariff influence he could have on average household.
“Well, we don’t know yet because he’s addicted to the path, but what I can tell you is not to worry about China,” the Besent said. “China will pay the tariffs because their business model exports the way out of this inflation.”
“They will eat all the tariffs that continue,” Bessent added.
Chinese Ministry of Trade specified on Friday To “firmly oppose” Trump’s latest tariff trip and vowed to take revenge as needed. After bringing the initial circle of tariffs in February, China has launched duties to a certain import of energy in the USA -UI added two US companies to the unreliable list of entities. Experts suggested that China could re -take similar measures after adding fresh tariffs.
“If they are now insisting in their own way, China will take all the necessary countermeasures to defend their legitimate rights and interests,” spokesman for the Ministry of Trade told CNBC.
Bessent asked on Sunday His comments last week This Mexico suggested the harmonization of American tariffs at China to avoid hitting Trump’s tariffs. He also urged Canada to follow the Mexican proposal.
“We’ll see. Mexican leadership offered it,” Bessent said. “We didn’t hear from Canadian, but I think it would be a very good start.”
He added that announcements from countries could come Tuesday, “or maybe a tariff wall goes upstairs, and then we see what’s going on from there.”
WATCH: China vows to take revenge as needed after Trump threatens tariff trips
