{"id":48459,"date":"2025-10-13T22:02:00","date_gmt":"2025-10-14T03:02:00","guid":{"rendered":"https:\/\/ustower.net\/?p=48459"},"modified":"2025-10-14T02:10:33","modified_gmt":"2025-10-14T07:10:33","slug":"u-s-consumers-will-pay-55-of-trump-tariff-costs-goldman-sachs-says","status":"publish","type":"post","link":"https:\/\/ustower.net\/?p=48459","title":{"rendered":"U.S. consumers will pay 55% of Trump tariff costs, Goldman Sachs says"},"content":{"rendered":"\n

Oct. 13 (UPI) — U.S. consumers will likely pay for more than half the cost of tariffs this year through higher prices, according to a new Goldman Sachs<\/a> analysis.<\/p>\n\n\n\n

Goldman Sachs economists predicted Sunday that U.S. companies will shoulder 22% of the tariffs<\/a>, implemented by President Donald Trump<\/a> six months ago, with foreign exporters taking an 18% hit by cutting prices.<\/p>\n\n\n\n

“If recently implemented and future tariffs have the same eventual impact on prices as the tariffs implemented earlier this year, then U.S. consumers would eventually absorb 55% of tariff costs,” according to economists.<\/p>\n\n\n\n

“At the moment, however, U.S. businesses are likely bearing a larger share of the costs because some tariffs have just gone into effect and it takes time to raise prices on consumers and negotiate lower import prices with foreign suppliers.”<\/p>\n\n\n\n

Trump unveiled his tariff plan<\/a> in April to boost domestic industry and reshape U.S. trade in what he touted was “Liberation Day,” vowing that foreign countries would bear the costs.<\/p>\n\n\n\n

Since then, Trump has implemented tariffs on automobiles, auto parts, copper, steel and aluminum, while also placing tariffs on specific countries, including China.<\/p>\n\n\n\n

“The president and administration’s position has always been clear: while Americans may face a transition period from tariffs upending a broken status quo that has put Americans last, the cost of tariffs will ultimately be borne by foreign exporters,” White House spokesman Kush Desai said in a statement<\/a>.<\/p>\n\n\n\n

“Companies are already shifting and diversifying their supply chains in response to tariffs including by on-shoring production to the United States,” Desai added.<\/p>\n\n\n\n

Goldman Sachs’ recent analysis did not take into account Trump’s threat Friday to impose a 100% tariff on goods<\/a> from China. Those tariffs are set to take effect on Nov. 1, and will increase levies from 30% after Beijing’s Commerce Ministry announced tightened export restrictions on rare earth items and materials.<\/p>\n\n\n\n

China responded to Trump’s latest tariff threat by vowing retaliation and warning it is not “afraid of a tariff war.”<\/p>\n\n\n\n

The Trump administration said the United States has received billions in revenue from tariffs this year. Trump said they are weighing what to do with the $215 billion in new revenue and could send rebate checks to U.S. households, subsidize manufacturers or fund food subsidies, impacted by the recent government shutdown.<\/p>\n\n\n\n

upi<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Oct. 13 (UPI) — U.S. consumers will likely pay for more than half the cost of tariffs this year through higher prices, according to a new Goldman Sachs analysis. Goldman Sachs economists predicted Sunday that U.S. companies will shoulder 22% of the tariffs, implemented by President Donald Trump six months ago, with foreign exporters taking an 18% hit by cutting prices. […]<\/p>\n","protected":false},"author":6,"featured_media":48461,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1155],"tags":[4210,4200,3616,1230],"class_list":["post-48459","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-consumers","tag-goldman-sachs","tag-tariffs","tag-trump"],"_links":{"self":[{"href":"https:\/\/ustower.net\/index.php?rest_route=\/wp\/v2\/posts\/48459","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ustower.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ustower.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ustower.net\/index.php?rest_route=\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"https:\/\/ustower.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=48459"}],"version-history":[{"count":1,"href":"https:\/\/ustower.net\/index.php?rest_route=\/wp\/v2\/posts\/48459\/revisions"}],"predecessor-version":[{"id":48462,"href":"https:\/\/ustower.net\/index.php?rest_route=\/wp\/v2\/posts\/48459\/revisions\/48462"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ustower.net\/index.php?rest_route=\/wp\/v2\/media\/48461"}],"wp:attachment":[{"href":"https:\/\/ustower.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=48459"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ustower.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=48459"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ustower.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=48459"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}