Archive · 21 Jan 2026
Study: Americans Bear 96% of Trump's Tariffs
A new study looked at millions of shipments to the US and found that Americans are paying almost all of the costs of the tariffs that President Trump put on imported goods.
The study says that 96% of the money from these tariffs comes from Americans, not from the foreign companies selling the goods.
This is different from what some politicians say, who claim that foreign countries pay these tariffs.
The study also found that when tariffs go up, foreign companies don't lower their prices but instead sell less to the US.
This means that American businesses and consumers are the ones really paying the tariffs, not the foreign companies.
The study looked at data from January 2024 to November 2025 and included shipments worth nearly $4 trillion.
The tariffs have had a big impact on countries like India and Brazil, and new tariffs have been announced on some European countries.
A study by the Kiel Institute for the World Economy found that 96% of the cost of Trump's tariffs is paid by Americans.
The analysis was based on 25 million shipments worth nearly $4 trillion from January 2024 to November 2025.
The 2025 Trump tariffs triggered a $200 billion surge in US customs revenue.
Foreign exporters did not significantly reduce their prices in response to US tariff increases, leading to a decrease in trade volumes instead.
New tariffs targeting eight European countries were announced, initially set at 10% and scheduled to rise to 25% on June 1 unless a Greenland deal is reached.
- Who
- Americans, not foreign exporters, are bearing the cost of Trump's tariffs.
- What
- A study found that 96% of the tariff burden is paid by Americans.
- When
- The analysis covers shipment data from January 2024 to November 2025.
- Where
- The tariffs affect imports into the United States, particularly from India, Brazil, and eight European countries.
- Why
- The study contradicts the political claim that tariffs are paid by overseas suppliers, showing that the burden falls on American businesses and consumers.
- Researcher
- Julian Hinz, Head of the Research Center Trade Policy at the Kiel Institute for the World Economy
- Data Analyzed
- 25 million shipments worth nearly $4 trillion
- Tariff Burden
- 96% paid by Americans, 4% by foreign exporters
- US Customs Revenue Surge
- $200 billion
- Impact on Trade Volumes
- 18-24% decrease for India
- Tariffs on India and Brazil
- 50% effective tariff since August 2025
- New Tariffs on Europe
- 10% initially, rising to 25% on June 1 unless a Greenland deal is reached
Sources
Americans buyers bear almost all the cost of Trump’s tariffs
Who really pays Trump's tariffs? New data says Americans foot 96% of the bill
Americans are paying for Trump's tariffs, not other countries: Report
Who bears the burden of Trump’s tariffs? Nearly every American, according to new study
