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flag U.S. tariffs have mostly hurt American businesses and consumers, not foreign countries, a Fed study finds.

flag A Federal Reserve Bank of New York study finds that nearly 90% of the economic burden from recent U.S. tariffs has been borne by American businesses and consumers, contradicting claims that foreign countries were primarily paying the costs. flag The findings reveal that tariffs have led to higher prices and increased input costs for U.S. firms, undermining the intended pressure on foreign producers. flag The report adds to growing scrutiny over the domestic impact of trade policies.

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