Trump Tariffs Hit U.S. Consumers

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Trump tariffs

Tax Foundation

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Who Really Pays the Tariffs? U.S. Firms and Consumers, Through Higher Prices

Summary

Nutrition label

89% Informative

The Biden administration has continued and even increased many of the Trump tariffs—drawing some attention as inflation.

While tariffs do raise prices for American consumers, their impact on economy-wide inflation is relatively small.

New studies have found the tariffs have been passed almost entirely through to U.S. firms or final consumers.

The Federal Reserve Bank of San Francisco estimated tariffs on Chinese goods raised economy-wide consumer prices by 0.1 percentage points.

The authors noted “[m]anufacturers and installers thus over-shift the burden of the trade tariffs on U.S. consumer” Other research by economists Aaron Flaaen , Ali Hortaçsu , and Felix Tintelnot found a similar.

VR Score

Informative language

Neutral language

Article tone

formal

Language

English

Language complexity

Offensive language

not offensive

Hate speech

not hateful