Who will pay the price of tariffs? Goldman Sachs warns: 70% of the "bill" is being passed on to American consumers
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Goldman Sachs warns that the impact of Trump's tariff policy on U.S. consumer prices is becoming evident. Research shows that consumers have already borne 22% of the tariff costs, and this proportion is expected to rise to 67%. Businesses are passing more costs onto consumers, leading to accelerated inflation. The core personal consumption expenditures index, which the Federal Reserve is focused on, is expected to rise by 3.2% year-on-year. The market anticipates that the consumer price index in July will increase by 2.8%, affecting the outlook for Federal Reserve interest rate cuts
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