Trump, tariffs and Americans
Digest more
President Donald Trump’s 25% tariffs on imported vehicles and parts have sent shockwaves through the U.S. auto industry.
Prices have gone up incredibly,” said one cafe manager. “We have to decide how much of that we want to absorb or pass on. It’s a tricky balance.”
Automakers might increase prices moving forward, according to a report from the intelligence firm AlixPartners.
But for many foreign companies, the slide in the US dollar has incentivized them to raise their invoice prices to compensate, according to Wells Fargo. And Deutsche Bank’s Saravelos said the pressure on US firms so far to bear tariff costs is another headwind for the greenback, which is already on its worst start to a year since the 1970s.
Business owners are paring back product offerings and trying to keep up with shifting deadlines and tax rates on imported goods.
The president imposed tariffs on Japan, one of America’s closest allies, that would have been alarming just months ago. And markets went up.
The tariff-driven inflation that economists feared begins to emerge after President Donald Trump's sweeping moves.
US inflation heated back up in June, rising to its highest level in four months, as price increases — including those from tariffs — packed a bigger punch.
The June inflation bump probably takes a July Federal Reserve interest-rate cut off the table.
A new report found inflation on the rise in June, renewing concerns that inflation is roaring back thanks to Donald Trump's tariff agenda.
The Brazil Tariff will result in a significant, and perhaps prohibitive, price increase in a staple American breakfast food," one U.S. small business says in a lawsuit.
Consumers blame companies for exploiting the disruption caused by tariffs. They believe companies are raising prices and reducing quality to boost profits.