Study Shows U.S. Importers and Consumers Bear 90% of New Tariffs' Burden
TheWkly Analysis
A study published by the Federal Reserve Bank of New York found that nearly 90 percent of the tariffs' economic burden fell on U.S. firms and consumers. As much as 94 percent of new tariffs in the first eight months of 2025 was absorbed by U.S. importers and consumers. The share of tariffs borne by U.S. importers and consumers stood at 92 percent from September to October and 86 percent in November. These findings are consistent with two other studies that report high pass-through of tariffs to U.S. import prices. The U.S. average tariff rate on imported goods increased from 2.6 percent at the beginning of 2025 to 13 percent by the end of the period covered in the study.
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Key Entities
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Federal Reserve Bank of New York Organization
A U.S. regional bank that conducts economic research and analysis to inform monetary policy.
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Trump administration Organization
The U.S. government leadership under President Donald Trump that imposed the tariffs in question.
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Tariffs Concept
Taxes on imported goods intended to protect domestic industries, as studied for their economic impacts in 2025.
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U.S. importers and consumers Concept
Groups within the United States that absorb the majority of tariff costs, according to the study's findings.
Multi-Perspective Analysis
Left-Leaning View
Left perspectives might frame this as evidence of how corporate policies under conservative administrations harm working-class Americans by increasing costs.
Centrist View
Center views would present this as a straightforward economic analysis, highlighting the study's data on tariff impacts without strong ideological bias.
Right-Leaning View
Right perspectives could argue that despite the burdens, these tariffs are necessary for protecting U.S. industries, even if consumers bear the cost short-term.
Source & Verification
Source: Capital FM RSS
Status: AI Processed
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