#TorstenSlok, chief economist at Apollo Global Management: Dallas Fed data show net #unauthorized #immigration flows turning negative, meaning more individuals are leaving the #US than entering
#usecon
π π€ tl;dr: 'In sum, U.S. firms and consumers continue to bear the bulk of the economic burden of the high tariffs imposed in 2025.'
Who Is Paying for the 2025 U.S. Tariffs? - Federal Resvere Bank of NY https://libertystreeteconomics.newyorkfed.org/2026/02/who-is-paying-for-the-2025-u-s-tariffs/ #econ #uspoli #usecon #tariffs

Over the course of 2025, the average tariff rate on U.S. imports increased from 2.6 to 13 percent. In this blog post, we ask how much of the tariffs were paid by the U.S., using import data through November 2025. We find that nearly 90 percent of the tariffsβ economic burden fell on U.S. firms and consumers.