Study Finds US Consumers Bear Majority of Costs from Trump's Tariffs

A study by the Kiel Institute for the World Economy finds that nearly 96% of the costs from US tariffs, including those on Indian and Brazilian exports, are borne by American consumers and importers rather than foreign exporters. The research shows that exporters maintain prices but reduce shipment volumes, leading to decreased trade rather than lower prices. This challenges claims that tariffs are paid by foreign countries and suggests these duties act as a consumption tax on Americans, with significant impacts on trade volumes and US customs revenue.