By analyzing $4 trillion of shipments between January 2024 and November 2025, researchers found that foreign exporters absorbed only about 4% of the burden of last year’s U.S. tariff increases by lowering their prices, while American consumers and importers absorbed 96%.
The tariffs had a significant effect on trade volumes: Facing higher U.S. tariffs, Indian exporters maintained their prices but reduced the volume of shipments to the U.S. by 18%-24% relative to the European Union, Canada and Australia, the report found.
Rather than acting as a tax on foreign producers, the tariffs functioned as a consumption tax on Americans. The $200 billion in additional U.S. tariff revenue last year “was paid almost exclusively by Americans.”
https://t.co/ORN8xsgyk8
Kyiv is the only capital on earth where New Year arrives in silence.
While the world celebrates with fireworks, Ukrainians have to listen for drones.
Wherever you are in the world, think of Ukraine and remember who caused this