CBO director says U.S. consumers will pay tariffs; Lutnick says otherwise

U.S. businesses and households are bearing the brunt of the Trump administration’s tariff policies, the head of the Congressional Budget Office said on Monday, though Commerce Secretary Howard Lutnick insists that manufacturers and foreign countries are on the hook for paying duties. During a Sept. 15 interview with CNBC , CBO Director Phillip Swagel cited new agency projections in contending that the administration’s tariff regime is hurting U.S. consumers and the economy. Tax cuts approved by the president are “boosting...