Economists and analysts have expressed concerns that President Trump's tariffs will lead to higher prices for consumers, despite recent data showing tame inflation. The staggered application of tariffs, uncertainty in trade policy, and time required for shipping and production are contributing to a slow increase in prices. While businesses are absorbing some costs, consumers may ultimately bear the brunt of higher prices, especially as the effects of tariffs become more pronounced in the coming months. The upcoming inflation data is expected to reflect the impact of tariffs on goods prices, which have already shown increases in categories like home goods, toys, and apparel. Overall, the tariffs could lead to a peak in inflation later this year, potentially impacting American consumers.
Source: https://www.cnn.com/2025/07/10/economy/tariffs-higher-prices-inflation