American shoppers are feeling the pinch of new tariffs on furniture and lumber, with a Goldman Sachs analysis revealing they’re shouldering over 55% of the costs from President Trump’s trade policies. By late 2020, that burden could jump to 70%—making everyday items pricier for households nationwide. 📦
The Breakdown: Who Pays What?
Goldman Sachs’ latest report breaks it down:
🇺🇸 U.S. consumers: 55%
🇺🇸 U.S. businesses: 22%
🌍 Foreign exporters: 18%
🚫 Evaded tariffs: 5%
Harvard economist Alberto Cavallo warns of “clear upward pressure” on prices, with core inflation projected to hit 3.2% by December. That morning coffee? ☕ Prices for imports like beans have already jumped 4% since March.
Why Can’t We Just ‘Shop Local’? 🛋️
Researchers tracking 359,000+ products found U.S.-made goods also rose 2%—but some items, like Turkish rugs or Colombian coffee, simply can’t be replaced domestically. Foreign sellers aren’t absorbing costs either, says Yale’s Budget Lab: “They’re passing [tariffs] to U.S. buyers.”
With prices climbing faster than paychecks, this trade war’s next chapter might be written at the checkout counter. 💳
