Who pays Tariffs? The point people are missing.
From the moment President Trump announced "Liberation Day" and laid out a list of tariffs he planned to impose, we've heard from economists, politicians, the media and the Federal Reserve about the impact of the tariffs on consumers. Clothing, food, technology, cars, and toys are some of the categories of products tariffs will effect. But there is a key point they overlook in their complaints about tariffs. From the media, we see headlines like these: CNN - "'Sneakflation': How Trump's tariffs are gradually raising costs for American consumers." Forbes - "Tariffs may have a bigger impact on consumers than some experts think." The Hill - "The misery of auto tariffs is hitting families and factories." Then there was the Federal Reserve which held off changes in the interest rate citing the "uncertainty" caused by tariffs as their reason for doing so. Democrats' criticism has been a bit awkward because progressives su...