Americans Still Paying 100% of Trump’s Tariffs

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As you may recall, economists who have studied Donald Trump’s tariffs have concluded that American consumers and firms are basically paying all of them. It’s just a big ol’ sales tax hidden slightly under the surface of products from China and elsewhere.

But that should change over time as importers adjust their supply chains and switch to other sources. By now, we should be seeing the effect of that and the prices borne by US consumers should be decreasing. A team of economists ran the numbers again to see where we are, and they concluded that—well, here’s the chart:

There’s been no change at all. American firms and consumers are still paying nearly 100 percent of the cost of the tariffs. The only exception, it turns out, is steel, where foreign manufacturers have lowered their prices in the face of increased competition.

So that’s that. Previous estimates that American households are paying nearly $1,000 per year in hidden tariff costs are still in effect. Have a nice new year.

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Minority rule, corruption, disinformation, attacks on those who dare tell the truth: There is a direct line from what's happening in Russia and Ukraine to what's happening here at home. And that's what MoJo's Monika Bauerlein writes about in "Their Fight Is Our Fight" to unpack the information war we find ourselves in and share a few examples to show why the power of independent, reader-supported journalism is such a threat to authoritarians.

Corrupt leaders the world over can (and will) try to shut down the truth, but when the truth has millions of people on its side, you can't keep it down for good. And there's no more powerful or urgent argument for your support of Mother Jones' journalism right now than that. We need to raise about $450,000 to hit our online fundraising budget in these next few months, so please read more from Monika and pitch in if you can.

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