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Story summary
- Tariffs imposed by U.S. President Donald Trump in 2025 raised core goods prices by 3.1%, impacting consumers.
- Retailers passed tariff costs onto consumers, contradicting Trump's claim that foreign producers would absorb them.
- The study indicates that without these tariffs, household goods inflation would have remained below pre-pandemic levels.
- Economists say tariffs inherently raise prices.
- The analysis projects core goods inflation may return to pre-pandemic levels if no trade shocks occur.
