White House Insists China 'Will Be Absorbing' Tariff Costs Despite Treasury Secretary Admitting Burden 'May Get Passed to Consumers'
White House Press Secretary Karoline Leavitt insisted on Monday that China "will be absorbing" the cost of tariffs on its exports despite U.S. Treasury Secretary Scott Bessent previously admitting the burden "may get passed to consumers."
Over the weekend, President Donald Trump wrote in a Truth Social post that "Walmart should STOP trying to blame Tariffs as the reason for raising prices throughout the chain" after the company's CEO revealed during an earnings call days prior that, "given the magnitude of the tariffs," the company will be raising prices.
"Between Walmart and China they should, as is said, 'EAT THE TARIFFS,' and not charge valued customers ANYTHING," Trump continued. "I'll be watching, and so will your customers!!!" he added. World Bank President David Malpass attends the Reuters NEXT Newsmaker event in New York City, New York, U.S., December 1, 2022. Reuters
When asked whether the president's remarks signaled an acknowledgment that Americans would bear the cost of tariffs not absorbed by companies, Leavitt firmly rejected the idea.
"First of all, the CEO of Walmart made those comments about the tariffs on an earnings call where CEOs, I believe, are legally obligated to give the most dire warnings and forecasts to their investors and stakeholders," Leavitt stated during Monday's press briefing.
"The reality is, as the president has always maintained, Chinese producers will be absorbing the costs of these tariffs and that is why China was so quick to hustle to the negotiating table with the United States of America," she continued. "They need our markets. They need our consumers," Leavitt added in a clip shared by journalist Aaron Rupar on X.
Originally published on Latin Times
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Int'l Business Times
4 hours ago
- Int'l Business Times
Germany Warns Apple, Google on DeepSeek App Over Privacy Breaches Tied to China
Germany's top data protection office is raising the alarm over DeepSeek, a Chinese AI chatbot app, for allegedly breaking European privacy laws. On Friday, Berlin's data commissioner Meike Kamp urged Apple and Google to consider removing the app from their stores, accusing DeepSeek of unlawfully transferring German user data to China. "DeepSeek's transfer of user data to China is unlawful," Kamp said in a public statement, warning that Chinese authorities may have full access to user information once it reaches servers in China, EuroNews said. Kamp also noted that DeepSeek failed to prove that it provides the same level of data protection required under the European Union's General Data Protection Regulation (GDPR). GDPR rules strictly limit how companies move personal data outside the EU. Any transfer must have proper safeguards in place, such as legal agreements and data handling standards equal to Europe's. Kamp claims DeepSeek hasn't shown that it meets those requirements. DeepSeek Faces EU Scrutiny for Sending User Data to China The app, created by Chinese companies Hangzhou DeepSeek and Beijing DeepSeek, gained popularity for offering a cheaper AI chatbot alternative using fewer high-end chips. However, its growing presence in Europe has sparked privacy concerns. According to CNBC , Kamp's office notified Apple and Google and expects both tech giants to perform a "timely review" of whether the app should remain available. If both platforms remove it, the result could be a de facto ban across the entire European Union and potentially the UK as well. "It is certainly possible that this incident could lead to an EU-wide ban," said Matt Holman, an AI and data lawyer at Cripps, in an email. "But regulators across the EU would need to agree before making that move official." For now, Apple and Google have not publicly responded to the request. CNBC has reached out to both companies and DeepSeek's privacy team but has not received a reply. This is not DeepSeek's first clash with European regulators. Earlier this year, Italy ordered DeepSeek to block its app after the company refused to comply with an official data request. Ireland also launched a separate investigation into how the app processes user information. Originally published on
Int'l Business Times
a day ago
- Int'l Business Times
Trump Withdraws Protected Status From Haitian Migrants
The Trump administration said Friday it is terminating temporary legal protections that allowed more than 520,000 Haitians to live in the United States. The United States grants Temporary Protected Status (TPS) to foreign citizens who cannot safely return home because of war, natural disasters or other "extraordinary" conditions. The Department of Homeland Security said it was ending TPS for Haitians on September 2 and encouraged those who were living in the United States under the program to return home. Former president Joe Biden extended TPS for Haitians before leaving office, allowing them to reside in the United States until February 2026. But the Trump administration announced in February that it was canceling the extension. It said on Friday it was terminating TPS for Haitians altogether on September 2. "The environmental situation in Haiti has improved enough that it is safe for Haitian citizens to return home," DHS said. Permitting Haitian nationals to remain temporarily in the United States is contrary to US national interest, it added. Struck by a devastating earthquake in 2010, Haiti has suffered from political instability for decades and more recently from increasing violence by armed groups. The US State Department currently advises Americans not to travel to Haiti "due to kidnapping, crime, civil unrest and limited heath care." President Donald Trump has pledged to carry out the largest deportation campaign in US history and curb immigration, mainly from Latin American nations. Trump ordered a review of the TPS program on his return to the White House and his administration has revoked TPS protections for Afghans and Venezuelans in addition to Haitians. During his campaign Trump made baseless claims that an Ohio city had seen a recent influx of Haitian migrants who were stealing and eating residents' cats and dogs. A UN human rights expert called on the United States and other nations in March not to expel Haitians back to their violence-plagued country. William O'Neill, a UN-designated expert on human rights in Haiti, said deporting people back there would be unsafe. "Violent criminal groups continue to extend and consolidate their hold beyond the capital," O'Neill said. "They kill, rape, terrorize, set fire to homes, orphanages, schools, hospitals, places of worship, recruit children and infiltrate all spheres of society."
Int'l Business Times
a day ago
- Int'l Business Times
Republican Discord Threatens Trump Agenda
US President Donald Trump's signature domestic policy bill faced major roadblocks Friday, as his Republicans struggled to overcome differences and many of the spending cuts proposed to pay for his tax breaks were deemed against Senate rules. Trump is hoping to seal his legacy with the so-called "One, Big Beautiful Bill" -- extending his expiring first-term tax cuts at a cost of $4.5 trillion and beefing up border security. But Republicans eying 2026 midterm congressional elections are divided over the package, which would strip health care from millions of the poorest Americans and add more than $3 trillion to America's burgeoning debt pile. Trump ratcheted up pressure on Congress to get the package to his desk by July 4, posting on social media Friday: "We can get it done. It will be a wonderful Celebration for our Country." Senate Republican leaders had planned to begin a weekend of votes beginning Friday to pass the sprawling legislation but that timetable was in limbo, with negotiations mired in rows. Republicans are using an arcane process called "reconciliation" which allows them to pass the package on a simple majority, without Democratic buy-in. But there are strict rules governing the provisions allowed in such legislation, adjudicated by the chamber's independent "referee," Senate Parliamentarian Elizabeth MacDonough. The savings come largely from decimating funding for Medicaid, the health insurance program for low-income Americans, but MacDonough called some of those cuts out-of-bounds. That leaves around $250 billion in savings on the cutting room floor, and Republicans scrambling to offset the $4.5 trillion cost of Trump's tax relief elsewhere. Republicans are split in any case on the Medicaid cuts, which will threaten scores of rural hospitals and lead to an estimated 8.6 million Americans being deprived of health care. Independent analysis also shows that the bill would pave the way for a historic redistribution of wealth from the poorest 10 percent of Americans to the richest. It is unpopular across multiple demographic, age and income groups, according to extensive recent polling. Although the House has already passed its own version, both chambers have to agree on the same text before it can be signed into law. Republican leaders worked Friday to hammer out a version that can get a quick rubber-stamp in the House without returning to the negotiating table. But more than a dozen House Republicans -- enough to tank the package -- have said they will not vote for the Medicaid cuts. Meanwhile, there are conservatives in both chambers who are adamant that the cuts do not go far enough. "Every Republican senator is committed," Trump said at a White House press conference Friday. But he acknowledged the bill's precarious status, telling reporters that "a couple of grandstanders" could derail his plans. "And it's very dangerous, because our country would go from being the most successful country in the world to, who knows what," he said.
