Well, howdy there, internet people it spell again.

So today, we're going to talk about how you haven't finished paying for Trump's tariffs.

Well, there now exists enough data to really get into who's paying for Trump's Liberation Day tariff scheme.

Spoiler. It's what most expected.

Okay. So the Keel Institute for the World Economy analyzed about $4 trillion worth of shipments in about 25 million individual transactions between January 2024 and November 2025.

For those who are going to ask, the shipments in 2024 were to establish a baseline.

Trump has repeatedly claimed that foreign countries are paying for the tariffs.

While it's obvious foreign countries aren't paying for the tariffs, maybe he meant foreign countries are paying for the tariffs. While it's obvious foreign countries aren't paying for the tariffs,

maybe he meant foreign companies, people, exporters, and so on.

If that's what he meant, he's right.

For about four cents out of every dollar of his tariffs.

That's right. Americans are paying 96% of the cost of the

tariffs. One of the authors behind the study put it bluntly, quote, there is no such thing as foreigners

transferring wealth to the U.S. in the form of tariffs.

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