Who pays tariffs?
Asked 1 day ago
Answer
Tariffs are primarily paid by U.S. businesses that import goods, who often pass the costs on to American consumers through higher prices. Studies show most tariff costs are absorbed domestically, not by foreign exporters. Small businesses and families are particularly affected, with increased annual expenses.
Now Playing
Who actually pays tariffs?
CBS News ยท Current
CBS News
Current
- Most economists agree U.S. firms pay tariffs and often pass costs to consumers. 16s
- A Federal Reserve study found tariffs are almost completely passed into U.S. prices. 31s
- Goldman Sachs reports U.S. businesses have paid 64% of tariffs, consumers 22%. 1m 17s
- Small businesses face high tariff costs and are likely to pass these to consumers. 1m 47s
- Tariff revenue is at record levels, but Americans and U.S. companies are paying it. 2m 7s
