IP Law Daily, VITAL BRIEFING—Goldman economists estimate American consumers to pay 55% of tariffs, (Oct 17, 2025)

By Brad Rosen, J.D.

The U.S. Chamber of Commerce indicates that the Trump administration’s recent additional tariff on soft lumber will raise costs for U.S. businesses and home construction while undermining export successes enjoyed by the American paper industry.

In this edition of Tariffs Insights, Thomas Thompson explores the central issue and controversy surrounding the Trump administration’s far-flung tariff regime: who is paying for the tariffs? To answer this question, Thompson reviews commentary and analysis put forth by some of the world’s major economic players, including Goldman Sachs, the International Monetary Fund, the U.S. Chamber of Commerce, and wealth management giant UBS. The consensus appears to be that U.S. businesses and the American consumer are absorbing the brunt of increased tariff costs.

To read the article, click Goldman economists estimate American consumers to pay 55% of tariffs.

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