Americans Paid Trump’s Tariffs, Not Other Countries
A recent Federal Reserve Bank of New York report indicates that American consumers and companies bore the vast majority of the cost of President Donald Trump’s tariffs through late 2025. Contrary to the President’s assertions that foreign countries paid the tariffs, the study found that U.S. entities absorbed nearly 90% of the financial burden. This translated to a significant tax increase for American households, with the tariffs acting as a de facto tax on domestic businesses and individuals rather than foreign entities.
John Q. Hosedrinker