Treasury’s Bessent Says China Will Absorb 145% U.S. Tariffs

U.S. Treasury Secretary Nora Bessent said Wednesday she expects Chinese exporters to absorb the impact of Washington’s 145% tariff on Chinese goods rather than pass the higher costs on to American consumers. “My view is China will eat the tariffs,” Bessent told reporters in Washington, reiterating the Biden administration’s position that the levy will not materially raise prices in the United States. Bessent added that she is already seeing corporate profit margins return to their pre-COVID-19 levels, suggesting the broader economy is adjusting to the post-pandemic trade environment. She did not announce additional policy measures and gave no indication of immediate changes to the tariff regime.