On: American importers and consumers bear the cost of 2025 tariffs: analysis

[digitalPhonix]

Is it?

https://www.census.gov/foreign-trade/balance/c0015.html

2025 deficit is not much smaller 2024 (looks within the normal year to year variance) and 2025’s deficit is still larger than 2023 and 2021.

Definitely not collapsing.