The Federal Reserve meeting notes that the cost of tariffs is mainly borne by the domestic, and the pressure of enterprises to transfer and coping strategies coexist

As for the magnitude of the tariff impact on prices, several participants observed that the evidence to date suggests that foreign exporters are bearing at most a small portion of the additional tariffs, meaning that domestic businesses and consumers are the main bearers of tariff costs. Some participants, based on information from business contacts or business surveys, expected that over time, many companies would have to increasingly pass on tariff costs to end point customers. However, several attendees said that business contacts and survey respondents said they were employing a variety of strategies to avoid passing tariff costs entirely on to customers, including negotiating with or changing suppliers, changing production processes, lowering profit margins, strengthening wage controls, or leveraging cost-saving efficiency measures such as automation and new technologies.