{"id":5492,"date":"2025-08-17T19:02:25","date_gmt":"2025-08-18T02:02:25","guid":{"rendered":"https:\/\/abovecloud.xyz\/?p=5492"},"modified":"2025-08-17T19:02:39","modified_gmt":"2025-08-18T02:02:39","slug":"america-starts-to-feel-the-squeeze-what-we-know-about-tariffs-and-inflation","status":"publish","type":"post","link":"https:\/\/abovecloud.xyz\/?p=5492","title":{"rendered":"America starts to feel the squeeze: What we know about tariffs and inflation"},"content":{"rendered":"\n<p>Consumers and businesses are feeling the pinch from\u00a0<a href=\"https:\/\/www.axios.com\/2025\/07\/23\/trump-tariffs-japan-trade-deal-phillippines\">President Trump&#8217;s trade war<\/a>, with costs soaring for grocery staples and critical materials.<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"576\" src=\"https:\/\/abovecloud.xyz\/wp-content\/uploads\/2025\/08\/image-14-1024x576.png\" alt=\"\" class=\"wp-image-5493\" srcset=\"https:\/\/abovecloud.xyz\/wp-content\/uploads\/2025\/08\/image-14-1024x576.png 1024w, https:\/\/abovecloud.xyz\/wp-content\/uploads\/2025\/08\/image-14-300x169.png 300w, https:\/\/abovecloud.xyz\/wp-content\/uploads\/2025\/08\/image-14-768x432.png 768w, https:\/\/abovecloud.xyz\/wp-content\/uploads\/2025\/08\/image-14-1536x864.png 1536w, https:\/\/abovecloud.xyz\/wp-content\/uploads\/2025\/08\/image-14.png 1920w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<p><strong>Why it matters<\/strong>: It&#8217;s no longer anecdotal. The effects are difficult to ignore across key inflation indicators that might only get hotter in the months ahead.<\/p>\n\n\n\n<p><strong>The big picture<\/strong>: Global tariffs are putting upward pressure on costs. U.S. businesses are bearing the brunt, contrary to White House hopes that foreign suppliers would take some of the hit.<\/p>\n\n\n\n<p><strong>Between the lines<\/strong>: Import prices might cool if exporters around the globe were discounting goods to help ease the tariff burden for their U.S. buyers.<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>But the opposite was the case last month: Import prices rose at the quickest pace this year, &#8220;casting further doubt on the &#8216;foreigners will pay&#8217; talk from the administration,&#8221; ING global economist James Knightley wrote this week.<\/li>\n<\/ul>\n\n\n\n<p><strong>Threat level:&nbsp;<\/strong>Wholesale prices rose at the fastest pace in three years last month \u2014 higher costs that might be passed on to the consumer down the line.<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>The data &#8220;points to pipeline inflation that&#8217;s likely to spill into consumer prices in the months ahead,&#8221; says Michelle Green, a former Labor Department economist, now at corporate planning firm Board.<\/li>\n\n\n\n<li>Fresh and dry vegetable prices rose by almost 40 percent alone last month, the largest spike since inflation took off in 2022.<\/li>\n<\/ul>\n\n\n\n<p><strong>The intrigue<\/strong>: Mexico is a leading supplier of America&#8217;s vegetables, imports now subject to 25% tariff rates \u2014 at least&nbsp;<a href=\"https:\/\/www.axios.com\/2025\/07\/31\/trump-tariffs-mexico\">until the end of October.<\/a>.<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>The Trump administration exempted U.S.-bound goods covered under the U.S.-Canada-Mexico trade agreement from tariffs, though the Trump 1.0-era deal largely does not apply to agricultural goods.<\/li>\n\n\n\n<li>The Consumer Price Index this week showed evidence of some tariff-related price hikes, though less so than was evident in June.<\/li>\n<\/ul>\n\n\n\n<p><strong>The latest:&nbsp;<\/strong>Chicago Fed President Austan Goolsbee warned this week that a wave of new tariff announcements for inputs, like semiconductors, as well as final goods could keep upward pressure on inflation.<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>That would be a more bleak outcome than the one-and-done price hike some, including White House economists, predict.<\/li>\n\n\n\n<li>&#8220;I just want some more surety that that&#8217;s not going to be a persistent inflation shock,&#8221; Goolsbee said.<\/li>\n<\/ul>\n\n\n\n<p><strong>Of note<\/strong>: Customs and Border Protection&nbsp;<a href=\"https:\/\/content.govdelivery.com\/bulletins\/gd\/USDHSCBP-3ee1cba?wgt_ref=USDHSCBP_WIDGET_2\" target=\"_blank\" rel=\"noreferrer noopener\">said late Friday<\/a>&nbsp;that 50% steel and aluminum tariffs would be expanded to more than 400 other goods, effective Monday.<\/p>\n\n\n\n<p><strong>What to watch:<\/strong>&nbsp;Persistent inflation could derail a series of interest rate cuts later this year expected by financial markets and demanded by Trump.<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Fed chair Jerome Powell is expected to speak on Friday in Jackson Hole, Wy. \u2014 a high-stakes speech that might signal what&#8217;s ahead for rates as the central bank faces immense White House pressure.<br><br>Reposted from Axios<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Consumers and businesses are feeling the pinch from\u00a0Pre [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":5493,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[12],"tags":[924,1043,4074],"class_list":["post-5492","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-usa","tag-america","tag-inflation","tag-tariffs"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v19.0 - 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