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Trump Warns of Doom if Tariffs Are Ruled Illegal. Others See a Tax Cut.

Many American companies have had to shoulder at least some of the costs of tariffs, biting into earnings the same way a corporate tax increase would, analysts say.

© Tierney L. Cross/The New York Times

Who actually bears the burden of paying President Trump’s tariffs — and, therefore, who would benefit from their potential end — has been a central economic debate this year.
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