
Tariffs as Hidden Tax: Americans Bear 96% of Trump’s Tariffs, Kiel Study Finds
A Kiel Institute study finds that 96% of Trump-era tariffs were passed through to American importers and consumers, effectively making tariffs a consumption tax borne by U.S. households rather than foreign exporters. The analysis, along with inflation forecasts from economists Orszag and Posen predicting higher inflation in 2026, suggests tariff costs will increasingly affect prices even as the White House defends the policy. With the Supreme Court’s ruling still pending, the tariff program remains in limbo amid ongoing economic uncertainty.


