How the United States is eating Trump's tariffs

US companies and consumers are bearing the brunt of the country's new import tariffs, early indications show, contradicting assertions by President Donald Trump and complicating the Federal Reserve's fight against inflation. Trump famously predicted that foreign countries would pay the price of his protectionist policies, wagering that exporters would absorb that cost just to keep a foothold in the world's largest consumer market. But academic studies, surveys and comments from businesses show that through the first months of Trump's new trade regime it is US companies that are footing the bill and passing on some of it to the consumer - with more price hikes likely. "Most of the cost seems to be borne by US firms," Harvard University professor...