WASHINGTON, D.C.—U.S. Senator Peter Welch (D-Vt.) today grilled Treasury Secretary Scott Bessent on the Trump Administration’s reckless trade policies, which are raising costs for Vermont businesses, manufacturers, farmers, and families. Senator Welch pressed Secretary Bessent on how President Trump’s unpredictable economic policies have wrought instability for Vermonters in every corner of the Green Mountain State.
Senator Welch asked Secretary Bessent: “Let me ask you this: predictability. The Trump tariff timelines—February 1: Executive Order, 10% on China, 25% on Mexico, and Canada. February 3: 30-day pause on 25% tariffs on Mexico and Canada. February 10: 25% tariffs on steel and aluminum. March 4: an additional 10% on China, 25% on Mexico, and Canada. This goes on and on—22 different tariffs. And it looks like the President wakes up, kind of checks his mood, and changes the tariff regime.
“I’ve talked to manufacturers where they’ve had products coming to a port, and if they arrive Monday, they’re cool. If they arrive on Wednesday, it’s going to cost them another $75,000. Just in terms of implementation, 22 different tariffs over the course of a few months.”
Secretary Bessent responded: “I’m just saying, Senator, if you’re familiar with game theory, it’s called ‘strategic uncertainty,’ and it’s also called ‘negotiations.’ Thirteen days ago, on a Friday, President Trump threatened the E.U. with 50% tariffs. The E.U. was not negotiating in good faith. Within ten hours, we had calls from five European leaders and a call with Ursula Vanderlinden. So, you may call this a flip-flop, I call this a negotiating strategy, and this is the way negotiating strategies works.”
Senator Welch: “Vermonters call it pretty painful as a way to run their business.”
Watch the full exchange between Senator Welch and Secretary Bessent below:
Senator Welch opposed Secretary Bessent’s nomination. In his confirmation hearing, Senator Welch pushed Bessent to avoid protectionist trade policies. The Trump Administration has since imposed sweeping global tariffs and waged an all-out trade war with our closest trade allies, including Canada, Mexico, and the EU.
Senator Welch has been a leading voice in pushing back against the Trump Administration’s deeply misguided and disastrous economic policies. Senator Welch has blasted Trump’s tariffs and trade war and shared stories from constituents about how President Trump’s economic policies have impacted their businesses, farms, and communities. This week, Senator Welch welcomed Steve Wright, President and General Manager of Jay Peak Resort to the Senate for a forum on the impact of tariffs and President Trump’s trade war, highlighting the detrimental impact the Trump Administration’s rhetoric toward Canada has had on businesses in Vermont.
Senator Welch is a cosponsor of a bipartisan resolution to repeal the tariffs on Canada, a bipartisan bill to restore congressional tariff authority, a bill to restrict the Executive Branch’s authority to impose tariffs through the International Economic Emergency Powers Act, and a bill to exempt small businesses from the April 2nd global tariff Executive Order. Senator Welch also led a bipartisan resolution to end President Trump’s ruinous global tariffs.
Last month, Senator Welch joined a bipartisan delegation and traveled to Ottawa to meet with Canadian dignitaries, including Prime Minister Mark Carney, to discuss bipartisan support for a U.S.-Canada partnership and their commitment to a strong trading relationship between the United States and Canada. The Senator has hosted roundtables in Stowe, Newport, St. Albans, Manchester, and virtually to hear concerns and first-hand stories from Vermont and Canadian leaders impacted by the trade war.
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