According to online reports, Deutsche Bank analyst George Saravelos wrote that the dollar is facing downward pressure as Americans bear the impact of tariff costs. Saravelos pointed out that if foreign countries bear the cost of tariffs, their selling prices should fall, but this trend has not occurred except in a few cases. However, he also said that since inflation in the United States is still under control, it is not consumers that bear the main cost of tariffs, but importers. "Since the cost of tariffs is mainly borne by the United States, this becomes another negative factor for the dollar," Saravelos said.