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US Tariffs Could Be Triggering New Inflation Woes. Everything You Need to Know
UNITED STATES, JUL 16 – Tariffs raised the effective import duty rate to 20.6%, adding an estimated $2,800 in annual costs for the average U.S. household, contributing to a 2.7% inflation rise in June.
- Consumer prices in the United States rose 2.7% in June compared with a year earlier, continuing inflationary pressures across categories.
- This increase comes after President Trump implemented tariffs beginning April 2, including a 17% tax specifically targeting tomatoes imported from Mexico, along with broad duties on various other goods.
- Major companies like Walmart and Mitsubishi have responded by raising prices, while Democratic lawmakers warn these tariffs could rekindle inflation.
- Core inflation, which excludes volatile food and energy, increased 2.9% in June, driven by higher grocery, gasoline, and rent costs, while housing costs show signs of cooling, as economist Eric Winograd noted.
- The persistence of tariffs and rising prices suggest the Federal Reserve is likely to maintain interest rates amid uncertainty on tariff impacts on the economy.
43 Articles
43 Articles
Tariffs and Inflation – It's Complicated Right Now - Liberty Nation News
By Andrew Moran Tariffs and inflation are two economic subjects that have been the talk of the town this year. Economic observers combed through the most important inflation report – until the next one, that is – to determine whether President Donald Trump’s levies are finally traversing through the US marketplace. While the term “uncertainty” has been a […]
Trump's Trade Policy Challenges: Legal Blocks, Inflation, and Midterm Elections - Real News Now
The trade policies of former President Donald Trump have faced legal challenges, a rise in inflation, and may face a further challenge: the upcoming midterm elections, approximately a year and three months from now. What kind of sudden trade actions will the stalwart leader from the Oval Office take against allies that have been dealing in good faith? In his forceful confrontation against the global trade system, how much will Trump expect from …
Inflation in the United States rose again in June, reaching its highest level since February, a trend that could be an early sign of the impact of the new tariffs, according to local economists.
Impact of tariffs on inflation & public media funding threatened
The Pulse speaks with an economics professor about how tariffs are impacting inflation & the economy. Plus, the General Manager of WGVU discusses the impact funding cuts to the Corporation for Public Broadcasting could have in our state.
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