Americans paid nearly 90% of Trump tariffs in 2025, NY Fed report says
#tariffs #New York Fed #Kevin Hassett #Trump administration #2025 #economic cost #trade policy
📌 Key Takeaways
- New York Fed report indicates Americans paid 90% of Trump-era tariffs in 2025.
- Report stresses domestic consumers bear majority of tariff costs.
- White House advisor Kevin Hassett disputed the report’s framing.
- Implication: trade policy shifts burden to domestic market.
- Economic analysis points to domestic consumption impacts rather than foreign export burdens.
📖 Full Retelling
United States citizens, according to a 2025 report from the New York Federal Reserve, paid nearly 90 percent of the costs of tariffs imposed under President Trump’s trade agenda, a fact that White House senior adviser Kevin Hassett criticized as misleading. The report, released in 2025, found that the burden of these tariffs fell primarily on domestic consumers and businesses rather than on foreign exporters—a conclusion that Hassett accused of misrepresenting the economic impact of the Trump administration’s trade policy.
🏷️ Themes
U.S. trade policy, Economic impact of tariffs, Political critique of data interpretation, Consumer versus exporter costs
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Original Source
White House advisor Kevin Hassett slammed the New York Fed report, which found that Americans, not foreign exporters, bear most tariff costs.
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