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That’s not what they say when the subject of tariffs comes up. “We’ll have to pass it on to consumers”.

But in reality, a share of the tariff is paid by the supplier and a share is paid by the consumer.

And if I remember my classic macroeconomics class correctly, that share depends precisely on the elasticity of demand (slope of the demand curve).

This is correct.

Economic facts pay little heed to economic rhetoric.

Companies only ever tell the truth of course.

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