Rep. Waters Clashes With Bessent Over Impact of Tariffs

• Rep. Waters asserted that tariffs are inflationary, citing a New York Times article and Bessent's previous statements to investors.
• Waters highlighted the administration's announcement to reduce tariffs on coffee and bananas to lower prices, which she presented as evidence of tariffs' inflationary nature.
• She argued that tariffs on housing production goods like lumber and steel have exacerbated the housing crisis by making homes more expensive.
• Waters urged Bessent to be a 'voice of reason' and advocate for ending tariffs that harm American consumers and housing affordability.

US Representative Maxine Waters questioned Treasury Secretary Scott Bessent on the inflationary impact of tariffs. Waters argued that tariffs on various goods, including housing production materials like lumber and steel, are inflationary and harm American consumers and housing affordability. Bessent initially denied tariffs cause inflation, citing the San Francisco Federal Reserve, but Waters highlighted his past contradictory statements and the administration's actions.