Chinese exporters and the Beijing government absorb most US tariffs rather than passing them fully to American consumers.

Commerce Secretary, Howard Lutnick: “The model is clear: 10% tariffs or less are paid by the manufacturers, the distributors, the businesses,” he said. “The consumer doesn’t pay. The consumer doesn’t pay because the seller doesn’t want to raise prices, because if they could, they would, but they don’t want to sell less. So they eat it.”

https://www.zerohedge.com/markets/lutnick-beijing-eating-maj...