US Edition
Published • loading... • Updated
NY Fed report says Americans pay for almost all of Trump's tariffs
A Federal Reserve Bank of New York report shows Americans paid nearly 90% of Trump’s tariff costs in 2025 as import tax rates rose from 2.6% to 13%.
- On February 12, 2026 the Federal Reserve Bank of New York said Americans bore 90% of President Donald Trump's tariffs.
- Study authors noted average tariffs climbed from 2.6% to 13% during 2025, pushing back against the Trump administration's claim that foreigners would pay the levies.
- Authors reported pass-through rates showing Americans absorbed 94% of tariffs last year from January–August, easing to 92% in September–October and 86% in November, with past work finding 100% pass-through by foreign exporters.
- Federal Reserve officials say higher tariffs raised the cost of imported goods, complicating interest-rate decisions and increasing prices for U.S. consumers and businesses.
- The Supreme Court is set to rule on the legality of many of President Donald Trump's tariffs, which officials say impacts may wane but cost-of-living effects could persist.
Insights by Ground AI
13 Articles
13 Articles
A year in, it’s official: Americans, not foreigners, are paying for Trump’s tariffs
A new report from the Federal Reserve Bank of New York confirms what economists have long warned about: The burden of tariffs is borne almost entirely by the people living in the country that imposes them.
·Atlanta, United States
Read Full Article
Research contradicts Trump's claims that foreign companies would bear the tax burden.
·Brazil
Read Full Article
Coverage Details
Total News Sources13
Leaning Left2Leaning Right2Center5Last UpdatedBias Distribution56% Center
Bias Distribution
- 56% of the sources are Center
56% Center
L 22%
C 56%
R 22%
Factuality
To view factuality data please Upgrade to Premium
