ECB’s Panetta Says Tariffs Have Damaged the US More Than Others

Photographer: Alessia Pierdomenico/Bloomberg The US economy has borne most of the burden of tariffs imposed by President Donald Trump, according to European Central Bank Governing Council member Fabio Panetta. Photographer: Alessia Pierdomenico/Bloomberg “Foreign exporters seem to have shouldered a portion of it, estimated at around 10%,” he said Saturday in Venice. “Initially, the impact was absorbed by US firms’ profit margins, and was then partially passed on to consumers, who now bear about half of ...