US consumers are feeling the impact of new import tariffs imposed by President Trump, with a forecasted absorption of 67% of tariff costs by October. Currently, they have absorbed only 22% of the costs. Analysis from Goldman Sachs reveals that US businesses are currently covering 64% of these costs, while foreign exporters have managed to absorb around 14%. Tariffs have already added to inflation, with predictions of further increases in the coming months.
"Descriptive evidence shows that goods categories heavily exposed to imports have indeed experienced sizable price increases since the beginning of this year, relative to their prior trends."
"So far, consumers have absorbed just 22% of the tariff costs associated with this year's increases, according to a new Goldman Sachs report published Sunday."
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