Treasury Secretary Scott Bessent has conceded that American importers, and ultimately consumers, are bearing the financial burden of tariffs imposed by the Trump administration. Bessent acknowledged that the billions of dollars President Trump claimed were flowing "into" the U.S. as a result of these tariffs are actually paid by importers, who may then increase prices for consumers to compensate for the expense. This admission contradicts previous administration assertions that foreign countries were directly paying the tariffs.