European Central Bank Executive Board Member Panetta: The US economy has borne the majority of the burden of Trump's tariffs.

European Central Bank council member and Governor of the Bank of Italy Panetta said that the US economy has borne most of the burden of President Trump's tariffs. He said in Venice on Saturday: "Foreign exporters appear to have borne part of the losses, estimated at around 10%. Initially, this loss was absorbed by US companies' profits, and then partially passed on to consumers, now consumers are bearing about half of the losses. Overall, tariffs are estimated to contribute slightly more than 0.5 percentage points to US inflation."