DEUTSCHE BANK: AMERICANS, NOT FOREIGNERS, PAY TRUMP’S TARIFFS Despite over 100B in tariff revenue this year, Deutsche Bank says U.S. importers — not foreign exporters — are absorbing the costs. Their research shows import prices for manufactured goods dropped only slightly in Q2: down just 1% for China despite tariffs rising over 30%. Bigger drops were seen from Canada and the UK, but overall reductions were mild. This means U.S. companies are eating the costs through smaller profit margins instead of passing them to consumers — keeping consumer prices stable for now. Key takeaways: 1 - Foreign exporters aren’t feeling much pain yet, giving them leverage in trade talks. 2 - Pressure on U.S. consumer prices may build. 3 - The U.S. bears most costs, which could weigh on the dollar.(*Walter Bloomberg)