56%
IsItCap Score
Truth Potential MeterSomewhat Credible
Somewhat Credible
taxfoundation.org
Tariff Tracker: 2026 Trump Tariffs & Trade War by the Numbers
<strong>The Trump tariffs are the largest US tax increase as a percent of GDP since 1993</strong> and amount to an averagetax increase per US household of $1,500 in 2026.
reason.com
Federal Reserve: Without tariffs, inflation would have dropped to pre-pandemic levels during 2025
New Federal Reserve study finds that <strong>tariffs were responsible for the "entirety of the excess inflation in the core goods category."</strong>
apnews.com
The tariff-driven inflation that economists feared begins to emerge | AP News
Yet the new inflation numbers make it more likely that the central bank will leave rates where they are. Powell has said that he wants to gauge the economic impact of Trump’s tariffs before reducing borrowing costs. Excluding volatile food and energy, core inflation increased 2.9% in June from a year earlier, up from 2.8% in May.
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theguardian.com
Why haven’t Trump’s tariffs crashed the US economy? | Jeffrey Frankel | The Guardian
Using real-time data from large US retailers, Alberto Cavallo and his co-authors find that <strong>the prices of goods subject to the new tariffs – the imported products and their US-made substitutes – have been rising since April.</strong>
npr.org
Have Trump's tariffs worked? This is where things stand a year after 'Liberation Day'
Inflation has cooled considerably from its four-decade high in 2022 — but <strong>prices are still climbing faster than the Federal Reserve would like, in part due to tariffs</strong>. Inflation in February was 2.4%, slightly higher than it was last April.
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cbsnews.com
4 reasons why the Trump tariffs haven't caused U.S. inflation to soar - CBS News
The full impact of tariffs plays ... report noted. That means <strong>any U.S. tariffs imposed this year would be unlikely to have much of an impact on inflation until later this year and into 2026</strong>....
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