US consumers and businesses bore the brunt of nearly 90 percent of the cost of Donald Trump's tariffs last year, according to a new Federal Reserve study. The research, which analyzed data from the first 11 months of 2025, directly contradicts Trump's claims that foreign companies would shoulder the financial burden.
The study, conducted by the New York Fed, revealed that the majority of tariff costs were passed on to American firms and consumers. "Our results show that the bulk of the tariff incidence continues to fall on US firms and consumers," the study's authors wrote in a blog post on Thursday. The authors noted that while exporters began to shoulder a larger portion of the costs as the year progressed, the initial impact was heavily concentrated on the American side.
In other news, Nvidia announced significant reductions in AI inference costs. A new analysis released Thursday by Nvidia details how four leading inference providers are reporting 4x to 10x reductions in cost per token. These dramatic cost reductions were achieved using Nvidia's Blackwell platform with open-source models. Production deployment data from Baseten, DeepInfra, Fireworks AI and Together AI shows significant cost improvements across healthcare, gaming, agentic chat, and customer service as enterprises scale AI from pilot projects to millions of users. The 4x to 10x cost reductions reported by inference providers required combining Blackwell hardware with two other elements: optimized software and model efficiency.
Meanwhile, in the realm of consumer goods, deals on electronics continue to attract attention. One standout deal is the TCL QM6K television, which remains heavily discounted. The 65-inch QM6K is available at Best Buy for $530, a significant markdown from its original price. The TV offers a balanced image at a great price point, with incredible black levels that help create a deep, high-contrast picture.
In other financial news, TurboTax continues to be a popular option for tax filing. The service offers an easy-to-use interface, expert help, and various options for document upload. TurboTax stores previous years' information, allowing for easy auto-upload and remembering choices from previous years.
Finally, in the political sphere, former President Donald Trump is reportedly focused on addressing the declining birth rate in the United States. Describing himself as the "fertilization president," Trump has proposed various measures, including financial incentives for mothers and lowering the cost of in vitro fertilization (IVF) drugs. Future-of-work experts suggest that cutting commutes and promoting remote work could be a solution. A new study led by Stanford University economists has found evidence that remote work can boost lagging fertilization rates.
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