據《華爾街日報》報導，德國基爾世界經濟研究所最新研究指出，美國在2024年1月至2025年11月期間開徵的關稅成本中，約96%由美國消費者與進口商負擔，外國出口商僅透過降價承擔約4%的成本。這項結論與唐納德·川普多次聲稱「關稅主要由外國支付」的說法相悖。研究強調，儘管短期內美國通貨膨脹仍相對溫和，但新增的約2000億美元關稅收入幾乎完全由美國國內承擔，相關影響恐隨時間逐步浮現。

According to a report by *The Wall Street Journal*, the latest study from the Kiel Institute for the World Economy shows that approximately 96% of the costs of the tariffs imposed by the US between January 2024 and November 2025 are borne by US consumers and importers, while foreign exporters only shoulder about 4% through price reductions. This conclusion contradicts Donald Trump’s repeated claims that tariffs are mainly paid by foreign countries. The study points out that although US inflation remains relatively moderate in the short term, the additional tariff revenue of around $200 billion is almost entirely borne domestically, and the related impacts may gradually manifest over time.