History Quote by Scott Bessent

I think that tariffs in a way can be regarded as an economic sanction without a sanction.

— Scott Bessent

As history has repeatedly proven, one trade tariff begets another, then another - until you've got a full-blown trade war. No one ever wins,…

— Mark McKinnon

The problem with tariffs is they shift higher costs onto the backs of non-protected industries and consumers.

— Stephen Moore

A protective tariff is a typical conspiracy in restraint of trade.

— Thorstein Veblen

For too long, the conventional wisdom has rejected the use of tariffs as a tool of both economic and foreign policy. However, like Alexander…

— Scott Bessent

Tariffs protect ill-considered government policies, such as costly regulations and high taxes on labor and capital that make our goods uncompetitive in international markets.

— Paul Craig Roberts

I would recommend that tariffs be layered in gradually.

— Scott Bessent

Everybody talks about tariffs as the first thing. Tariffs are the last thing. Tariffs are part of the negotiation. The real trick is going…

— Wilbur Ross

Used strategically, tariffs can increase revenue to the Treasury, encourage businesses to restore production and reduce our reliance on industrial production from strategic rivals.

— Scott Bessent

TARIFF, n. A scale of taxes on imports, designed to protect the domestic producer against the greed of his consumer.

— Ambrose Bierce

The benefits of a tariff are visible. Union workers can see they are "protected". The harm which a tariff does is invisible. It's spread…

— Milton Friedman

Thanks to economists, all of us, from the days of Adam Smith and before right down to the present, tariffs are perhaps one tenth…

— Milton Friedman