Amazon will reportedly begin showing how much Trump's tariffs add to the price of each product.
"This is a hostile and political act by Amazon," White House press secretary Caroline Levitt said. "Amazon has partnered with a Chinese propaganda arm. Why didn't Amazon do this when the Biden administration hiked inflation to the highest level in 40 years?"
Treasury Secretary Scott Besant acknowledged the tariff whiplash has created uncertainty for business owners and the stock market.
"Certainty is not necessarily a good thing in negotiating," Bessent explained adding he expects new trade deals with India and South Korea soon.
"Bringing down the terrible Biden inflation has been a priority for the first 100 days of the Trump administration, and President Trump has done a great job of leading that," says Bessent. "The big tax on consumers that goes unnoticed is deregulation or regulation, and we are deregulating and bringing that down."
The import taxes imposed by Trump threaten to increase prices on consumers and businesses and worsen inflationary pressure. Companies want customers to understand the source of these higher prices.
Leavitt suggested at Tuesday’s briefing with reporters that such transparency is un-American.
Bessent says purchasing power has been impacted.
"From a household income point of view, we would expect real purchasing increases. We've seen them over the 1st 100 days, and we would expect that to accelerate," Bessent explained.
Leavitt said this is a reason for Americans to buy goods made in the U.S.
"So this is another reason why Americans should buy American. It's another reason why we are onshoring critical supply chains here at home to shore up our own critical supply chain and boost our own manufacturing," she says.
The Associated Press contributed to this story.