Study shows tariffs have been paid for by the U.S., says Bielefeld University's Julian Hinz

• US import prices have not changed, indicating that US importers and consumers are paying for tariffs, not foreign exporters.
• Trade volume has dropped by 24%, leading to fewer product varieties for US consumers and sales losses for foreign exporters.
• Approximately 20% of the tariff impact has been passed on to consumers, while 80% is absorbed by importing firms, affecting their margins.
• India and Brazil are currently facing the highest statutory tariffs (50%), with China also significantly impacted.
• The impact of tariffs is not fading; if they remain, more costs are expected to be passed on to consumers over time, as observed in previous tariff periods.

Julian Hinz from the Kiel Institute discusses his study on tariffs, revealing that Americans are primarily bearing the cost. The study, based on US import transaction data, shows that foreign exporters have not lowered prices, meaning US importers and consumers are paying the tariffs. This has led to a 24% drop in trade volume and reduced product variety for US consumers.