Trump tariffs raise US goods prices

New research from the Federal Reserve Bank of New York indicates that tariffs implemented under President Trump increased the prices of many everyday consumer goods in the U.S., adding approximately 2.9 percentage points to costs. The findings show that without these tariffs, prices would have declined by early 2026, highlighting their inflationary impact. The study also found that about two-thirds of the price increases stemmed from imported goods, while one-third came from American-made products. The report raises concerns about ongoing consumer cost pressures, especially with approaching midterm elections.

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