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Committee presses Treasury on tariffs, China talks and impact on U.S. consumers and industry
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Summary
Members of both parties questioned Secretary Bissett about the administration's tariffs, the status of trade negotiations with China and other partners, and the tariffs' economic impact on U.S. consumers and manufacturers.
Several members used questioning time to press Treasury Secretary Scott Bissett on the administrationtariff program and the status of trade negotiations. Lawmakers asked which countries the administration was close to striking deals with and whether China was part of current negotiations.
Bissett declined to name negotiating counterparties in the hearing, saying disclosure "would not benefit The United States" while talks were ongoing; he told the committee he planned to travel to Switzerland and that negotiations would begin on Saturday. He also said trade talks would be led by himself and the U.S. Trade Representative, Ambassador Jamie Greer. On the administration's negotiating posture, he told the committee "we will reach an agreement, then I am sure that the other countries will live up to [it]."
Members raised concrete concerns about economic effects. Representative Velasquez pressed the secretary about public statements that talks were "close," asked whether that applied to specific countries and pressed him on the effects of tariffs on small businesses and consumers. Several members cited industry estimates and anecdotal examples: Chairman Hill and others noted home builders' estimates that tariffs could add roughly $11,000 to the cost of a new home; Representative Presley described that many common baby products such as car seats are imported and said higher tariffs would raise costs for new parents. Bissett said tariff negotiations were underway with 18 trading partners and that some negotiations were "quite advanced."
Why it matters: Tariffs affect prices for consumers and input costs for manufacturers. Committee members called for exemptions or targeted relief for items members described as essential, and asked Treasury to coordinate trade talks to limit short‑term harm while pursuing reshoring and industrial policy goals.
What happened next: Members said they would submit follow‑up questions and requested written information about specific sector impacts and about the administration's negotiating timeline; the secretary did not announce any immediate tariff exemptions on the record.
Sources: questioning during the full committee hearing; Secretary Scott Bissett's oral testimony and members' remarks.
