US Edition
US Consumers to Bear Brunt of Tariff Hit, Goldman Economists Say
UNITED STATES, AUG 11 – Goldman Sachs projects US consumers will absorb 67% of new import tariff costs by October, driving inflation well above the Federal Reserve's 2% target through the holiday season.
- Goldman Sachs economists expect U.S. consumers to bear the brunt of President Donald Trump's tariffs, as companies pass on higher costs. They project the consumer share will rise significantly over time.
- Since returning to office, President Donald Trump imposed a 10% tariff on all foreign imports and product-specific duties, which economists project will fuel inflation, according to Goldman Sachs economists.
- Through June, U.S. consumers bore 22% of tariff costs, projected to rise to 67% by October according to Goldman Sachs economists.
- Planning price hikes by Adidas and Walmart, according to Goldman Sachs economists, project U.S. shoppers will face higher costs on imported goods during the holiday season.
- Goldman Sachs analysts project that core PCE inflation will reach 3.2% in December, and `We still expect U.S. headline inflation to rise to around 3.5% by year-end`.
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LA Daily News+2 Reposted by 2 other sources
US consumers to bear brunt of tariff hit, Goldman economists say
So far, they've absorbed 22% of tariff costs through June, but that share will rise to 67% if the latest tariffs follow the pattern of levies in previous years.
·Los Angeles, United States
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US consumers will bear brunt of Trump’s tariffs, say Goldman Sachs economists
US consumers will end up bearing the brunt of President Trump’s tariffs once the taxes finish working their way through the economy, according to a new report from Goldman Sachs economists.
·New York, United States
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Coverage Details
Total News Sources15
Leaning Left3Leaning Right3Center5Last UpdatedBias Distribution45% Center
Bias Distribution
- 45% of the sources are Center
45% Center
L 27%
C 45%
R 27%
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