Washington - Higher US tariffs did little to force foreign exporters to reduce their prices and instead prompted American importers to switch to cheaper, and in part lower-quality products, according to an International Monetary Fund (IMF) Working Paper.

The paper finds that tariffs imposed by the United States were largely passed through to import prices, with exporters absorbing only a small fraction of the additional cost. Rather than lowering their pre-tariff prices to remain competitive, foreign suppliers largely maintained their prices, leaving US importers to adjust by sourcing less expensive alternatives.

According . . .