Study shows tariffs have been paid for by the U.S., says Bielefeld University's Julian Hinz

Summary

• A study by the Kiel Institute for World Economy finds that Americans are paying for tariffs.
• The study analyzed millions of US import transactions.
• Import prices have not changed significantly, meaning the cost of tariffs is being absorbed by US importers or passed on to consumers.
• 80% of the tariff impact is on US importers, leading to lower profit margins.
• 20% of the tariff impact is on US consumers, leading to higher prices.
• This differs from the argument that foreign exporters would absorb the costs.
• Countries like India and Brazil are paying the highest tariffs, with about 50% of the tariff impact.
• China is also heavily impacted by US tariffs.
• Trade volume has dropped by 24%, and there's less variety for US consumers.
• Foreign exporters are losing sales due to these tariffs.