• Tom Werner, chairman and chief executive officer of SunPower Corp., stands for a photograph at a facility in Hillsboro, Oregon, Aug. 7. Over the past two years, SunPower was hit with duties on panels it makes overseas; won an exemption; was threatened with tariffs on equipment it makes in Mexico; and watched rivals gain access to a tariff loophole. | BLOOMBERG
    Tom Werner, chairman and chief executive officer of SunPower Corp., stands for a photograph at a facility in Hillsboro, Oregon, Aug. 7. Over the past two years, SunPower was hit with duties on panels it makes overseas; won an exemption; was threatened with tariffs on equipment it makes in Mexico; and watched rivals gain access to a tariff loophole. | BLOOMBERG

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WASHINGTON – When the Trump administration imposed tariffs on Chinese imports last year, officials insisted China would pay the cost — implying Chinese firms would have to cut their prices to absorb import “taxes” of up to 25 percent when the goods hit U.S. shores.

Instead, the prices Chinese firms charge have barely budged, meaning U.S. companies and consumers are paying the tariff costs, estimated at around $40 billion annually, New York Fed Reserve Bank researchers found in a study released on Monday.

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