Research shows that 96% of the costs of Trump's tariffs are borne by the domestic U.S., akin to imposing a consumption tax on the American public

A study by a German think tank found that the tariffs imposed by U.S. President Donald Trump on imported goods are almost entirely borne by U.S. importers, their domestic customers, and ultimately by American consumers. "Foreign exporters did not significantly lower prices due to the U.S. increase in tariffs," the report released by the Kiel Institute for the World Economy stated on Monday. "The increase in customs revenue of $200 billion means that $200 billion has been taken away from U.S. businesses and households." The research found that only about 4% of the tariff burden is borne by foreign companies; the remaining 96% is "almost entirely" passed on to American buyers, who pay the tariffs and then either absorb them or raise prices. (Bloomberg)