Who wants to tell him that the import price index measures the pre-tariff price?
— Justin Wolfers (@JustinWolfers) July 17, 2025
If foreigners were eating the cost of (roughly) 10% tariffs, pre-tariff import prices would be down 10%. They're not. Therefore Americans are paying basically all of the tariffs. https://t.co/FKFCy3v2KL
Oops.