Americans are paying for Trump’s tariffs, not foreign companies
By Georgina Boos, Bloomberg News
Who’s paying for Donald Trump’s tariffs? So far, American businesses and consumers.
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General Motors Co. was the latest U.S. company to disclose how the levies are raising costs, with the automaker saying Tuesday that the duties dented profits by more than $1 billion as it chose to absorb the blow. That helps explain why car prices didn’t rise in last week’s inflation data, while robust price increases for other commonly imported goods like toys and appliances showed those tariff expenses are being passed on to consumers.

