Domestic Costs Rise: Americans Bear Brunt of Trump's Tariffs, Report Finds
A new report by the Federal Reserve Bank of New York confirms that Americans are now paying more for goods and services due to Trump's tariffs, shifting the burden from foreigners. The report is a stark reminder of the economic impact of the president's trade policies.
A year into the implementation of Donald Trump's tariffs, a new report by the Federal Reserve Bank of New York reveals that Americans are now paying for these levies, rather than foreigners. The study finds that the costs of the tariffs have been largely borne by domestic consumers. This shift is attributed to a decline in imports and an increase in domestic production as foreign companies have sought alternative markets outside the US. As a result, American consumers are now shouldering the financial burden of the tariffs.
