Goldman Sachs doubles down on tariff research that infuriated Trump, saying average Americans will bear two-thirds of the costs
Briefly

Goldman Sachs maintains that, contrary to claims of foreign entities absorbing costs, American consumers are increasingly facing the financial impact of tariffs. Currently, consumers bear 22% of tariff costs, projected to increase to 67% by October. In contrast, U.S. businesses will see their burden decrease from 64% to 8%, while foreign suppliers will experience a slight increase from 14% to 25%. Overall inflation is forecasted to rise as a consequence of the tariffs, anticipating a core PCE inflation of 3.2% by year's end, largely driven by trade measures.
Goldman Sachs' analysis indicates that as of June, American consumers absorbed 22% of total tariff costs, a figure set to rise to 67% by October.
Tariff burdens on U.S. businesses are predicted to drop from 64% to 8%, while the share for foreign suppliers increases from 14% to 25%.
Read at Fortune
[
|
]