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Your 60-second money minute. Today's topic: Who Pays The Tariff Cost
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Your Money Minute — Who Pays The Tariff Cost 3/2/26. Machine-transcribed; use the interactive transcript above to jump the player to any line.
with a CNBC Your Money Minute. I'm Chesica Edinger, survey after survey shows that American consumers generally dislike tariffs. And new data from the New York Fed may show why. Report from the New York Fed that said Americans are absorbing almost all of the cost of the President Trump's tariffs. That's CNBC's Robert Frank. Meantime the nonpartisan text foundation said the Trump tariffs cost the average American household about $1,000 last year paid in higher prices. And the data show the average household this year would pay about $1,300 because of the tariffs. Here's CNBC's Steve Sechwick. It is unambiguous. Tariffs are being passed on to U.S. companies and individuals. Now, there is a difference when it comes to tariffs. The Supreme Court ruled that the Trump administration's so-called reciprocal tariffs announced last April are unconstitutional, but the President put into effect a new set of tariffs on goods coming into the U.S. under a different statute.
No matter how tariffs happen, the data show American businesses pay most of the cost to bring in anything. And at least some of that cost gets passed on to the end U.S. consumer. Full coverage of the fast-changing tariff topic at CNBC.com. I'm Jessica Edinger, CNBC.
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