“American consumers and businesses bore roughly 93 percent of the cost of Trump’s tariffs, according to one analysis by Moody’s. The U.S. Trade Commission concluded in 2023 that American companies and consumers “bore nearly the full cost” of the tariffs Trump levied on steel, aluminum, and many goods imported from China.”
https://reason.com/2024/12/04/peter-navarro-should-not-have-power-over-u-s-trade-policy-or-anything