Friday, February 13, 2026

GET ME REWRITE: Trump and his advisers lied when they told us that the cost of new tariffs would be paid for by foreign suppliers


Headline:  New York Times, 2/12/2026

Ana Swanson and Sydney Ember report:
President Trump has frequently claimed that foreign countries were paying for his tariffs, not Americans. But as economists predicted, that is largely turning out not to be the case. 
Research published on Thursday by economists at the Federal Reserve Bank of New York and Columbia University suggests that, through November 2025, 90 percent of the economic burden of the president’s tariffs fell on U.S. companies and consumers. 
The economists reviewed the “incidence” of the tariffs — who ultimately pays the cost of new import taxes. When a good is brought into the country, the importer of record, often an American company, is first responsible for paying the tariff to the U.S. government. But the importer can pass that cost on to others by raising the prices it charges its customers, or by negotiating more favorable contracts with its suppliers.

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