Hiltzik: Yes, youre paying for Trumps tariffs...

What’s Happening

Alright so A new study finds that Americans paid 96% of Trump’s tariff charges, making them a hidden tax on U.

People President Trump in the Oval Office shortly after announcing global tariffs in April. Behind him are Treasury Secretary Scott Bessent, left, Commerce Secretary Howard Lutnick, Interior Secretary Doug Burgum, Transportation Secretary Sean Duffy and Michigan House Speaker Matt Hall. (it feels like chaos)

(Pool Photo) By Michael Hiltzik Business Columnist Follow Jan.

The Details

21, 2026 3 AM PT 9 min Click here to listen to this article via Close extra sharing options Email Facebook X LinkedIn Threads Reddit WhatsApp Copy Link URL Copied! Print 0:00 0:00 1x This is read voice.

Please report any issues or inconsistencies here . P]:text-cms-story-body-color-text clearfix mb-10 md:max-w-170 md:mx-auto” data-r-content On Tuesday morning, all eyes on Wall Street seemed glued to the nearest screens in expectation that the Supreme Court would finally disgorge its opinion on the legality of President Trump’s tariffs.

Why This Matters

It had been a long wait: The Court heard oral arguments on the issue Nov. 5, when questions from the justices suggested that a majority was prepared to strike the tariffs down. No tariff decision came down Tuesday.

World leaders are expected to respond to this situation soon.

Key Takeaways

• Tariffs do not transfer wealth from foreigners to Americans.
• They transfer wealth from American people to the US Treasury.

The Bottom Line

Kiel Institute for the World Economy But verdicts on the tariffs are flowing in from elsewhere, and from the standpoint of American people, they’re ugly in the extreme. One finding comes from the Kiel Institute for the World Economy , a respected German economic think tank.

What’s your take on this whole situation?