New research from investment bank Goldman Sachs affirms, as progressive advocates and economists warned, that US consumers are bearing the brunt of President Donald Trump’s trade wars.
As reported by Bloomberg on Monday, economists at Goldman released an analysis this week estimating that US consumers are shouldering up to 55% of the costs stemming from Trump’s tariffs, even though the president has repeatedly made false claims that the tariffs on imports exclusively tax foreigners.
US Consumers Paying the Most for Tariffs: Wall Street Giant’s Report Exposes Trump LiesThe report from investment bank Goldman Sachs comes as President Donald Trump is piling up even more tariffs on imported goods.