Consumers and businesses paid nearly 90% of Trump tariffs in 2025
3 months ago
- #Trump administration
- #economy
- #tariffs
- Nearly 90% of Trump's tariffs in 2025 were passed on to U.S. consumers and businesses, per the New York Fed.
- The average U.S. tariff on imports rose to 13% in 2025, up from less than 3%.
- The Trump administration claims foreign companies bear most tariff costs, but data shows U.S. importers paid 86-94%.
- The White House defends tariffs, citing economic gains like cooling inflation and rising corporate profits.
- Recent economic data shows solid GDP growth (4.3% in Q3) and a healthy job market (130,000 jobs added in January).
- Tariffs collected in 2025 totaled $287 billion, up 192% from the previous year.
- The Supreme Court may soon rule on Trump's authority to impose tariffs, potentially leading to $168 billion in refunds if struck down.