(The Hill) -- A new Goldman Sachs analysis says American consumers will shoulder 55 percent of the costs from President Donald Trump’s tariffs this year.

American businesses and foreign exporters will take on 22 percent and 18 percent of the costs, respectively, while 5 percent of the costs will be evaded. Goldman Sachs economists added in the report, published Sunday, that American firms will pass on their costs to consumers over the next few months.

"At the moment, however, U.S. businesses are likely bearing a larger share of the costs because some tariffs have just gone into effect and it takes time to raise prices on consumers and negotiate lower import prices with foreign suppliers," it said.

The Trump administration has imposed tariffs on trading partners around the world, impacti

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