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Fed's Miran says data suggests Americans aren't shouldering tariff hit
Studies show American consumers and businesses pay nearly all costs of tariffs, with consumers bearing 55% and businesses 22%, challenging claims that foreign exporters absorb most costs.
- New research shows that a National Bureau of Economic Research paper finds nearly the entire tariff burden is passed to higher U.S. prices, impacting consumers and businesses.
- Under the 1977 International Emergency Economic Powers Act, the administration has suspended, changed, increased, decreased, and reimposed tariffs while the White House said exporters would ultimately pay.
- The Yale Budget Lab estimated the annual median household cost of tariffs at around US$200 from late last month, while CBO data showed foreign firms absorbed about 5%.
- Federal Reserve Governor Stephen Miran said on Feb 9 that foreigners mainly pay tariff hikes, accounting issues camouflage the burden, and the U.S. Supreme Court will hear challenges by states and small businesses.
- The Fed says tariff pressures have contributed to inflation overshooting 2% this year, while delays, exemptions, and more than 200 food products exempted have obscured full price impacts.
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22 Articles
22 Articles
Fed's Miran says data suggests Americans aren't shouldering tariff hit
Federal Reserve Governor Stephen Miran said the Trump administration’s policy of trade tariffs has proved more benign than many had feared, in comments that argued that foreigners and their firms are the ones primarily paying for the tax hikes, rather than Americans.
·United Kingdom
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Coverage Details
Total News Sources22
Leaning Left3Leaning Right5Center5Last UpdatedBias Distribution39% Center, 38% Right
Bias Distribution
- 39% of the sources are Center, 38% of the sources lean Right
39% Center
L 23%
C 39%
R 38%
Factuality
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