A new report from Goldman Sachs says American shoppers will pay 55 percent of the costs from President Trump’s tariffs this year.

What It Means For You: Your grocery bills, clothing purchases, and other everyday items will likely cost more in the coming months as businesses pass tariff costs onto customers.

What’s Happening: The financial firm broke down who pays for the tariffs:

American consumers cover 55 percent of costs

American businesses pay 22 percent

Foreign companies pay 18 percent

Five percent of costs get avoided

Who They Are: Goldman Sachs is one of the world’s largest investment banks. The firm employs thousands of economists who track global markets and predict how policies affect prices. Their economic forecasts guide major companies and governments on financial d

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