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Americans are paying nearly all of the cost of President Donald Trump's import taxes, another analysis has found, contradicting his claims that foreigners are footing the bill. American businesses and consumers are paying 96% of the cost of Trump's sweeping tariffs, according to a study released Monday by the Kiel Institute for the World Economy, a German think tank. Researchers at the institute analyzed 25 million transactions valued at almost $4 trillion to reach their conclusions. "The tariff functions not as a tax on foreign producers, but as a consumption tax on Americans," wrote the researchers, led by Julian Hinz, a professor at Bielefeld University. "Every dollar of tariff revenue represents a dollar extracted from American businesses and households." What This Means for the Economy The latest findings shed light on the economic impact of tariffs, just as Trump threatens a fresh round against Europe in a bid to seize control of Greenland from Denmark. The president has repeatedly claimed foreign exporters are absorbing the import taxes, which raised more than $200 billion in revenue in 2025. "A tariff is a tax on a foreign country," Trump told supporters in Pennsylvania during the 2024 presidential campaign. "A lot of people like to say, 'Oh, it’s a tax on us.' No, no, no. It’s a tax that doesn’t affect our country."
Premium gym chains are entering a “golden era” that is ending or already in decline, as rising operating costs collide with shifting consumer preferences toward more flexible, community-based ways to exercise. Long-term memberships are shrinking, margins are pressured by higher rents and facility expenses, and competition from smaller, more personalized…
