US Consumers to Bear Brunt of Tariff Hit, Goldman Economists Say

The impact of President Donald Trump’s tariffs on consumer prices is just getting started, according to research by Goldman Sachs Group Inc., adding more uncertainty to a Treasury market that has been gripped by shifting bets on the pace of interest rate cuts.

US companies have so far taken the bulk of the hit from Trump’s tariffs but the burden will increasingly be passed on to consumers as companies hike prices, economists including Jan Hatzius wrote in a note. Consumers in the US have absorbed an estimated 22% of tariff costs through June, but their share will rise to 67% ...