Updated
Updated · Fox News · Oct 14
New York Fed Says Trump Tariffs Added 2.9 Points to Goods Prices, Including U.S.-Made Items
Updated
Updated · Fox News · Oct 14

New York Fed Says Trump Tariffs Added 2.9 Points to Goods Prices, Including U.S.-Made Items

3 articles · Updated · Fox News · Oct 14

Summary

  • New York Fed research found Trump’s tariffs added about 2.9 percentage points to prices for consumer goods studied, turning what would have been price declines by early 2026 into increases.
  • About two-thirds of the tariff-driven rise came from imports, while roughly one-third came from American-made goods, as U.S. producers faced higher costs for imported materials and components.
  • The study said tariff effects can take up to a year to fully reach consumers; although the inflationary impact of existing tariffs has largely peaked, prices are expected to stay higher while tariffs remain.
  • The White House disputed the findings, arguing foreign exporters will ultimately bear the costs and that the policy will reduce the trade deficit and revive U.S. manufacturing.
  • With midterm elections a month away, the findings sharpen pressure on Republicans’ cost-of-living message as households also face elevated energy and record diesel costs.

Insights

With a year-long delay in retail price hikes, is the worst of the 2026 tariff inflation still waiting to strike?
Are you unknowingly paying a hidden premium on domestic products due to the rising cost of imported materials?