US businesses and consumers shoulder the bulk of tariff cost burden, Goldman Sachs finds

A new analysis breaking down the passthrough of tariff costs finds that U.S. businesses and consumers are shouldering the majority of the cost at this point, rather than foreign exporters.Goldman Sachs economists estimated that as of August, U.S. businesses were absorbing a net 51% of tariff costs, while American consumers were shouldering 37% of the burden. They also estimated that 9% of the cost was paid by foreign exporters, and about 3% was attributed to potential tariff evasion."Our analysis suggests that at the moment, U.S. businesses are bearing the largest share of the tariff costs bec