Wells Fargo: US importers forced to bear the cost of Trump tariffs to shift to consumers, signs emerging

According to a report by Golden Finance, economists Sarah House and Nicole Cervi from Wells Fargo pointed out that the rise in US import prices indicates that foreign exporters are not bearing higher tariff costs. On Thursday, data showed that non fuel import prices increased by 1.2% year-on-year in June. They emphasized that the import price data does not include tariffs, so if exporters are digesting and absorbing the higher tariff costs imposed by Trump on goods, then import prices should have fallen accordingly. They warned that "due to the lack of a decline in import prices, local companies are being forced to bear higher tariff costs and begin to shift them to consumers