Tariffs Catch-All
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ZenMode
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Inflation remains elevated as Trump's tariffs take hold
Inflation continued to dog shoppers last month, as consumers were forced to shoulder more of the cost of President Trump's tariffs.
Consumer prices in July were up 2.7% from a year ago, according to a report Tuesday from the Labor Department. The annual increase was similar to the month before.
Rising prices on imported items such as toys and furniture contributed to the higher cost of living. That was partially offset by a sharp drop in the price of gasoline.
Stripping out volatile food and energy prices, "core" inflation for the twelve months ending in July was 3.1%. That's up from 2.9% for the twelve months ending in June.
Inflation continued to dog shoppers last month, as consumers were forced to shoulder more of the cost of President Trump's tariffs.
Consumer prices in July were up 2.7% from a year ago, according to a report Tuesday from the Labor Department. The annual increase was similar to the month before.
Rising prices on imported items such as toys and furniture contributed to the higher cost of living. That was partially offset by a sharp drop in the price of gasoline.
Stripping out volatile food and energy prices, "core" inflation for the twelve months ending in July was 3.1%. That's up from 2.9% for the twelve months ending in June.
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ChileG
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And it’s going to get worse unless TACO.
EyeballKid
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Yes and no, IMO.
Trump’s definitely riding highs of the wave of the Biden economy. And the market has done well to negotiate Trump’s uncertainty and TACO tactics over the first 6-7 months.
But we’re only just beginning to see the effects of the destruction of our long-standing trade alliances and the imposition of tariffs.
Just like we’re only just now starting to see the effects on the jobs market of all the DOGE cuts and the destruction of our medical/scientific research infrastructure and public health infrastructure.
It’s going to be a downward trend from here, IMO…the only questions are how steep and how soon.
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ZenMode
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1moretimeagain
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Tariffs are bringing in trillions in revenue, yet the budget deficit for July was about $300 billion?
His base believes the lies.
Duke Mu
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The long-term effects of the disruption and potential destruction of long-term trade alliances are a concern. China now has inroads with Europe. The EU and UK will trade more heavily with Canada, Mexico, SE Asia.
Tariff agreements are hundreds to thousands of pages long and passed by Congress. Nations are just going along, finding a way for Trump to TACO...and it usually means paying "protection" or extortion $$.
Having said that any tariffs collected from importers affect the supply chain to the consumer.
So...Trump is taxing
1. Businesses absorbing costs and reducing their profits (anti-business)
and/or is
2. Consumers pay more and thus Anti-working class and anti-middle class.
Therefore, the tariff games are not sustainable. Especially, ir and after a wave of inflation hits
However, trade alliance damage and reduced options for business and trade of information, intellectual property is likely to have repercussions for years.
The US has limited or no i.p. and student exchange with China. I'm hearing that many European academic institutions are blackballing the US because of Trump's folly.
We arrive at a related issue. Lack of CONFIDENCE in USA, Inc. and the Dollar. Eventually, after numerous business failures US banks stopped loading money to Trump and Daddy Fred had passed...so Trump looked toward Russian oligarchs for incoming capital flow.
The dollar continues to sink, reflecting reduced confidence in the US economy and government. Even if a sane person is elected POTUS in 2028, there is no guarantee US voters won't go full idiot again in the following election.
Therefore