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US Consumers, Importers Take Biggest Hit From Tariffs, ECB Study Finds
2 Articles
2 Articles
US consumers, importers take biggest hit from tariffs, ECB study finds
FRANKFURT, March 30 (Reuters) – U.S. consumers and importers take the vast majority of the financial hit from tariffs but trade volumes also suffer, resulting in a negative shock for exporters, too, a European Central Bank Economic Bulletin article said on Monday. The U.S. imposed a raft of tariffs on most trading partners last year and economists have been debating who would take the biggest hit after the Trump administration predicted th…
Importing companies and U.S. consumers bear the vast majority of the costs associated with U.S. tariffs on their trading partners, while "only 5%" are borne by foreign companies, according to a study published on Monday by the European Central Bank (ECB), which warns, however, of the negative effect on exporters related to the fall in volumes.
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