Who Is Paying For Tariffs? Import Prices Suggest It Is Foreign Producers

U.S. import prices have risen less than expected since President Trump began imposing tariffs, according to data released Wednesday by the Bureau of Labor Statistics, suggesting that foreign manufacturers are absorbing a significant share of the tariff burden.

In June, import prices climbed just 0.1 percent, matching the increase in overall consumer prices that was reported by the Department of Labor on Tuesday. The producer price index, which focuses on domestic prices and excludes imports, was flat for the month.

The year-over-year change is now a decline of 0.2 percent, compared with a year-over-year increase of 1.7 percent in February. Import prices have now declined on a year-over-year basis for two consecutive months.

The Trump administration announced new tariffs in April and May. While many

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