Treasury Sec. Scott Bessent: Tariffs are not a tax on American people

Tariff Impact on Companies - Nike anticipates tariffs to cost approximately $1 billion this year [1] - Black & Decker estimates tariff costs at around $800 million [1] - The top three automakers report tariff expenses exceeding $2 billion [1] - Some Japanese automakers are reportedly absorbing the tariff costs [2] - Goldman Sachs indicates that 86% of tariff revenue collected has been paid by American businesses and consumers [4] Economic Indicators - The GDP growth rate is reported at 33% [4] - The stock market is at a new high [4] Company Investment - Micron and Apple are increasing their investments in the United States [3] Pricing Strategies - Hasbro indicates they will need to increase prices [4]