Who Really Pays the Tariffs on China? (Hint: Not China)

Who actually pays the tariffs on China? Not China. Economists at the New York Fed found nearly 90% of the cost of 2025 tariffs fell on U.S. companies and consumers. We follow Mike (a hypothetical shopper in Ohio) buying Christmas lights and a car seat to see how a tariff travels from the border to the price tag, why imports shifted from China to Vietnam and Mexico, what the new $60 billion U.S.-China tariff deal actually changes, and why the Supreme Court's tariff ruling sent refunds to importers, not shoppers. SOURCES NY Fed, "Who Is Paying for the 2025 U.S. Tariffs?": https://libertystreeteconomics.newyorkfed.... Time, U.S. and China to cut tariffs on $60B of goods: https://time.com/article/2026/09/29/us-chi... CNN, US-China tariff cuts: https://www.cnn.com/2026/09/28/business/us... CRFB, FY2025 tariff revenue: https://www.crfb.org/blogs/tariff-revenue-... Yale Budget Lab, State of U.S. Tariffs (Apr 2026): https://budgetlab.yale.edu/research/state-... USAFacts, average US tariff rate on China: https://usafacts.org/answers/what-is-the-a... Penn Wharton Budget Model, Supreme Court IEEPA ruling: https://budgetmodel.wharton.upenn.edu/p/20... Al Jazeera fact check, toys & Christmas imports from China: https://www.aljazeera.com/news/2025/5/11/w... White House adviser criticism of the Fed study: https://www.yahoo.com/news/articles/wh-adv... Stock footage: Pexels (pexels.com), used under the Pexels License. Mike is a hypothetical example. Markup numbers in the car-seat example are illustrative. This video is for educational purposes only and is not financial advice. #Tariffs #China #CostOfLiving