The Federal Reserve has released research indicating that US consumers and businesses are bearing the brunt of tariff costs, with 90% of the costs being paid domestically. This finding contradicts the claim made by Trump that foreign companies would absorb the majority of the costs.
The research provides evidence that challenges the notion that foreign companies are primarily responsible for paying tariff costs. Instead, it suggests that the costs are largely being passed on to US consumers and businesses, resulting in a significant financial burden. The study’s findings are based on data and analysis conducted by the Federal Reserve, which aimed to assess the impact of tariffs on the US economy.
The implications of this research are significant, as it suggests that the US is shouldering a substantial portion of the costs associated with tariffs. As a result, US consumers and businesses may face increased prices and reduced competitiveness in the global market. The Federal Reserve‘s findings are likely to inform future trade policy decisions and may lead to a re-evaluation of the current tariff structure.
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