From Today’s Wall Street Journal:
Americans Are the Ones Paying for Tariffs, Study Finds
Research contradicts President Trump’s claim that foreigners are footing the bill,
FRANKFURT—Americans, not foreigners, are bearing almost the entire cost of U.S. tariffs, according to new research that contradicts a key claim by President Trump and suggests he might have a weaker hand in a reemerging trade war with Europe.
Trump has repeatedly claimed that his historic tariffs, deployed aggressively over the past year as both a revenue-raising and foreign-policy tool, will be paid for by foreigners. Such assertions helped to reinforce the president’s bargaining power and encourage foreign governments to do deals with the U.S.
I do hope this news isn’t too shocking, and that most of you will recover in time.