How the United States is eating Trump's tariffs
October 2025 11 views 2MIN 51SECU.S. companies and American consumers are bearing the brunt of the country's new import tariffs. That's according to early data from academic studies, surveys and comments from U.S. businesses and their executives. It contradicts assertions by President Donald Trump, who said foreign countries would pay the price of his protectionist policies. But early indications show that through the first months of Trump's new trade policy it is U.S. companies that are footing the bill and passing on some of it to the consumer - with more price hikes likely to come. A Harvard Business School study found that imported goods have become 4% more expensive since Trump started imposing tariffs in early March, while the price of domestic products rose by 2%. The biggest increases for imports were seen in goods that the United States cannot produce domestically, such as coffee, or that come from highly penalized countries, like Turkey. These price hikes, while material, have been generally far smaller than the tariff rate on the products in question - implying that sellers were absorbing some of the costs. A White House spokesperson said "Americans may face a transition period from tariffs" but that the cost would "ultimately be borne by foreign exporters."
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