Did Kevin Hassett Refute Trump's Claim That Foreign Companies Pay Tariffs?
Economic advisor Kevin Hassett unintentionally admitted that US customers do pay for the price increases caused by Trump's yo-yo tariffs.
During an interview on Face the Nation, host Margaret Brennan caught him slipping up, which forced Hassett to try to talk his way out of it.
HASSETT: We really expect the Supreme Court is going to find with us and I also think that if they didn't find with us, that it's going to be pretty unlikely that they're going to call for widespread refunds because it would be an administrative problem to get those refunds out there.
But basically, whoever paid the tariff, like actually cut the check to buy the thing, would be the person who would be getting the refund if there were one.
BRENNAN: Doesn't the administration claim it was the country that paid that? You're saying the company.
HASSETT: It would be like I'm not talking about the incidents, right?
So the incidents of the tariff, so in the end, who pays the tariff depends on elasticities of supply and demand.
Hassett stumbled his way into claiming that importers would be rebated the money if the Supreme Court ruled against Demented Donald, but that's just wild speculation.
Hassett is also passing on a holiday screw-you to US consumers.
Any competent human being understands that Trump's tariffs raise the costs of goods in the US, period.