DUTY DATA

After comparing $4 trillion of international shipments to the US between 1/24 and 11/25, researchers find foreign exporters absorbed 4% of recent tariff increases, American consumers and importers absorbed the remaining 96%. This shows tariffs, as predicted by economic theory, are not a way to boost the wealth of nations imposing the tariffs. The $200 billion in added tariff revenue has raised prices, temporarily fueled inflation, and altered trade patterns.