Trump’s Tariffs Backfire: Americans Paid the Highest Price, New Report Reveals

Washington: A new report has made a big revelation regarding the tariff policy of US President Donald Trump. According to the report, the import duties imposed on foreign countries had the biggest impact on American consumers and businessmen, not on foreign companies.

The Trump administration had imposed heavy tariffs on goods coming from many countries including China. Trump claimed that these fees would be paid by foreign companies, but the study revealed that the reality was completely different from this.

How much tariff burden will the American people bear?

An analysis by economists associated with the Federal Reserve Bank of New York found that about 90 percent of the burden of these tariffs was borne by American importers, traders and ordinary consumers. In fact, the increased duty on imported goods directly affected the prices, due to which everyday items became expensive and this affected the pockets of common people.

Will any financial burden increase on every American family? 

According to the Tax Foundation report, every American family will face an average additional burden of $1000 in 2025. This burden is expected to increase to around $1300 in 2026. This means that because of the tariff policy, American families had to buy expensive goods and their everyday costs increased.

Did foreign companies not reduce prices?

The report also said that foreign exporters reduced the prices of their products very little. The result was that American companies and customers had to bear the cost of the tariff. Due to this, imported goods became expensive and inflation was also affected due to increase in the costs of companies.

What will be the impact on inflation and economy?

Experts say that when companies' costs increase, they increase the prices of their products and services. This increases inflation and affects the purchasing power of consumers. According to the report, protectionist trade policies are aimed at protecting domestic industries, but often have an adverse impact on the domestic economy and consumers.

This report raises new questions about Trump's 'America First' trade policy and shows that the real economic burden of tariffs may ultimately have to be borne by the people of the same country that implemented them.