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 President Donald Trump's tariffs.
An analysis by Goldman Sachs economists reveals that American consumers will pay 55% of tariff costs, while U.S. businesses will pay 22% and foreign exporters will pay 18%.
U.S. firms are expected to pass costs onto consumers in the coming months.
This report contradicts repeated claims from the White House that foreign nations will pay the costs of the new import duties.
Author's summary: Consumers to bear 55% of tariff costs.
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