US EditionU.S. tariff costs largely passed to American buyers: Study
A German think tank study shows 96% of the $200 billion tariff costs fall on U.S. consumers and importers, contradicting claims that foreign exporters bear the burden.
- On Monday, the Kiel Institute for the World Economy released a study showing about 96% of President Donald Trump's tariff costs passed to U.S. importers and consumers from more than 25 million shipment records worth nearly $4 trillion.
- The White House said tariffs are paid by foreign exporters, with Kush Desai stating, `The average tariff imposed by America has increased by almost tenfold under President Trump.`
- Kiel researchers noted foreign exporters held prices and cut shipments; Julian Hinz stated, `The claim that foreign countries pay these tariffs is a myth.`
- The immediate result is more revenue for the U.S. Treasury but higher costs for American businesses and households, appearing as higher prices and reduced availability for U.S. consumers.
- The Supreme Court is expected to rule soon on challenges to tariffs after earlier this week, as President Donald Trump threatened to expand duties toward Europe, prompting emergency talks and counter-tariffs.
145 Articles
145 Articles
The extra revenue the US government generates by imposing heavy import duties on other countries ultimately ends up largely coming from the pockets of American businesses and citizens, according to German economists. And so, with his beloved geopolitical tool, Trump seems to be shooting his own economy in the foot.
Americans paying for 96% of tariff costs, study says
On Saturday, Trump threatened 10 percent tariffs starting Feb. 1 on imports from Denmark, Norway, Sweden, France, Germany, Finland, the U.K. and the Netherlands over their support for Greenland’s sovereignty.
abc10 News
Study finds Americans shouldering 96% of Trump-era tariff costs
American consumers are paying for the overwhelming majority of tariffs being implemented by the Trump administration, new research from the Kiel Institute indicates.The report found that Americans are paying 96% of the cost of the tariffs, while foreign exporters are absorbing about 4%. The Kiel Institute said it analyzed over 25 million shipment records from over $4 trillion in U.S. imports.The report indicated that U.S. customs revenue increas…
Study debunks Trump's claim foreigners pay his tariffs
US President Donald Trump has long insisted, in the face of decades of research by economists, that foreign producers are the only ones who are paying for his tariffs on imported goods. However, a major new study released Monday by the Kiel Institute for the World Economy, an economic think tank based in Germany, shows that US businesses and consumers are […] The post Study debunks Trump’s claim foreigners pay his tariffs appeared first on Asia …
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