New research shared by @DeItaone on X between 4:17 p.m. and 4:46 p.m. UTC on January 19, 2026, analyzed $4 trillion in trade and found U.S. consumers and businesses absorbed 96% of tariff costs through higher prices, while foreign exporters bore only 4%. The study contradicts President Donald Trump's claim that tariffs are paid by other countries, stating instead that tariffs function as a tax on U.S. consumption, according to the X post. European exporters experienced reduced trade volumes, but U.S. economic costs were larger. Economists cited in the research warn that further tariff increases would raise financial burdens on American households, as reported in the post during the 29-minute window. The findings come amid ongoing tariff discussions at the World Economic Forum in Davos, where EU leaders prepared strategies for meetings with Trump, per a Financial Times report earlier on January 19.
