Goldman Sachs: US Consumers To Pay 55% Of Tariff Costs
According to a report from Goldman Sachs, consumers will end up paying the bulk of the cost for Pres. Donald Trump's tariffs.
An analysis by Goldman Sachs economists reveals that American consumers will pay 55% of tariff costs, U.S. businesses will pay 22%, and foreign exporters will pay 18%.
The report contradicts repeated claims from the White House that foreign nations will pay the costs of the new import duties.
U.S. firms are expected to pass costs onto consumers in the coming months.
Author's summary: Consumers bear most tariff costs.
- 55% of tariff costs paid by US consumers
- 22% paid by US businesses
- 18% paid by foreign exporters
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