FRANKFURT/WASHINGTON –
U.S. companies and consumers are bearing the brunt of the country’s new import tariffs, early indications show, contradicting assertions by U.S. President Donald Trump and complicating the Federal Reserve’s fight against inflation.Trump famously predicted that foreign countries would pay the price of his protectionist policies, wagering that exporters would absorb that cost just to keep a foothold in the world’s largest consumer market.But academic studies, surveys and comments from businesses show that through the first months of Trump’s new trade regime it was U.S. companies that footed the bill, passing some of it on to the consumer — with more price hikes likely.
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