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Consumers bearing more than 50% of new tariffs

Photo: Generated by AI. Adobe Stock.

October 22, 2025

Consumers are bearing as much 50% of the tariffs enacted by President Donald Trump since the start of 2025, according to a Goldman Sachs report.

Given new tariffs could be coming, the burden could rise more, according to a NBC News report citing the data.

The report indicates consumers will continue to be challenged with high prices given the tariffs put in place. One Goldman Sachs estimate this past August put the burden figure as much as 67%.