According to the August 11, 2025 research note by Goldman Sachs economists Jan Hatzius and Elsie Peng, what percentage of import tariff costs through June 2025 were absorbed by foreign exporters, and what percentage was passed through to American consumers?
Explanation
Goldman Sachs economists Jan Hatzius and Elsie Peng found that through June 2025, foreign exporters absorbed just 14% of the U.S. import tariff costs, while American consumers absorbed 22% (with U.S....
Sources
- Customers have been spared most of the tariff costs so far, Goldman Sachs finds - MarketWatch
- Goldman Warns U.S. Consumers to Shoulder 67% of Tariff Costs by October, Inflation to Hit 3.2%
- US consumers could shoulder 67% of tariff burden if latest levies proceed, core inflation to reach 3.2%: Goldman Sachs
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