Why US consumers will pay for over half of Trump tariffs this year: Goldman Sachs estimate

A recent analysis by Goldman Sachs reveals that American consumers are bearing the brunt of President Trump's tariffs, shouldering 55% of the costs this year. This situation is concerning as it highlights the financial strain on everyday Americans, while businesses and foreign exporters take on significantly less of the burden. Understanding the impact of these tariffs is crucial, as it affects consumer prices and the overall economy.

A recent report from Goldman Sachs reveals that U.S. consumers are absorbing over half of the costs associated with tariffs imposed by President Donald Trump. This situation highlights the financial burden placed on everyday Americans as they face rising prices on imported goods. Understanding the impact of these tariffs is crucial, as it affects consumer spending and overall economic health.

Filmmaker Nancy Meyers expressed her deep sorrow over the passing of her close friend Diane Keaton, whom she referred to as a sister. In an emotional tribute, Meyers reflected on their nearly 40-year friendship and how Keaton profoundly impacted her life. This heartfelt acknowledgment highlights the significance of their bond and the loss felt in the film community.

In a shocking turn of events, a 58-year-old man walked into a Brooklyn police precinct early in the morning, confessing to the murder of his friend while visibly covered in blood. This incident raises serious concerns about public safety and the suspect's troubling history, which includes 16 prior arrests. Such violent acts not only impact the victims and their families but also shake the community's sense of security.

Islanders coach Patrick Roy is showing strong support for goaltender Ilya Sorokin despite the team's recent struggles, including a 5-2 loss to the Jets. This backing is crucial as it helps maintain Sorokin's confidence and morale during a challenging period, emphasizing the importance of teamwork and resilience in sports.

Alec Baldwin and his brother Stephen were involved in a serious car crash in East Hampton, New York, where their Range Rover collided with a tree, resulting in significant damage to the vehicle. This incident raises concerns about road safety and the potential consequences of distracted or reckless driving, especially for public figures like Baldwin.

Cher and her boyfriend Alexander 'AE' Edwards were spotted looking very much in love during their outing in New York City. They attended a roller skating installation at the Faena before making a stylish appearance at Indochine. This sighting not only highlights their relationship but also adds a touch of glamour to the NYC social scene, showcasing how love can shine brightly in the bustling city.

Speaker of the House Mike Johnson has raised alarms about the ongoing government shutdown, now in its thirteenth day, suggesting it could extend to become one of the longest in U.S. history. This situation is critical as it has already resulted in the layoff of over 4,000 federal workers across seven agencies, highlighting the significant impact on public services and the economy. The uncertainty surrounding the shutdown raises concerns for many Americans who rely on government services and jobs.