US EditionGoldman Stands by Call that Consumers Will Bear the Brunt of Tariffs After Trump Blasts Bank's Economist
Goldman Sachs projects U.S. consumers will shoulder 67% of tariff costs by October, shifting the financial burden away from businesses and foreign suppliers, according to chief economist Jan Hatzius.
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Goldman Sachs doubles down on tariff research that infuriated Trump, saying average Americans will bear two-thirds of the costs
Goldman Sachs is refusing to back away from its analysis that Americans—not foreign exporters or overseas governments—are bearing the majority of costs from President Donald Trump’s sweeping tariffs. The Wall Street giant doubled down this week on chief economist Jan Hatzius’s research as inflation data showed a jump in consumer prices and the political backlash from the White House intensified. Goldman’s latest report, published on Sunday, main…
Tariff Costs Borne by Consumers Could Triple by Year-End: Goldman Sachs
American consumers have absorbed roughly 22 percent of the costs from President Donald Trump’s tariffs through June, but that is expected to swell to 67 percent by year‑end if the pattern of past levies holds, Goldman Sachs economists said in a note this week. Businesses have so far carried around 64 percent of the costs, and foreign exporters about 14 percent, according to the analysis led by Jan Hatzius. By December, Goldman expects businesses…
But by October, U.S. consumers will likely bear 67% of the extra cost of tariffs, with companies passing them on to prices. The post "In the U.S., companies bear 64% of the extra cost of tariffs" appeared first on Monitor Mercantil.
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