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Goldman Sachs Says Trump’s Tariff Costs Have Fallen ‘Entirely’ on U.S. Businesses

They have had a greater impact on consumer prices than expected

Goldman Sachs said the cost of tariffs imposed by President Donald Trump last year against Chinese goods has fallen “entirely” on American businesses and households, with a greater impact on consumer prices than previously expected.

The bank said in a note that consumer prices are higher partly because Chinese exporters have not lowered their prices to better compete in the U.S. market.

Trump has repeatedly — and inaccurately — claimed that China will pay for tariffs imposed by the U.S.

Please select this link to read the complete article from CNBC.

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