US Edition‘Sneakflation’: How Trump’s Tariffs Are Gradually Raising Costs for American Consumers
Goldman Sachs predicts 67% of tariff costs will be borne by US consumers by October, with potential to reach 100% including domestic price increases, impacting household expenses.
- Walmart CEO Doug McMillon said the company's costs have risen every week because of tariffs, reflecting the growing burden on American firms and consumers.
- Despite administration claims, President Donald Trump says foreign countries eat tariff costs, but Goldman Sachs economists estimate about 70% will fall on U.S. consumers, potentially reaching 100%.
- New research found that as of August 8, imported goods cost 5% more and domestic goods 3% higher, while through June U.S. consumers absorbed 22% of tariff costs, rising to 67% by October, Goldman Sachs economists estimate.
- Farmers are feeling the impact as tariffs delay fertilizer imports and increase input costs in top farming counties that voted 78% for Trump, while food prices rose 2.9% in the past year, CNBC and the Bureau of Labor Statistics report.
- Analysts warn some tariff effects may take over a year to surface, extending economic strain, while observers note tariffs previously prompted taxpayer-funded mitigation payments for U.S. farmers, raising the prospect of similar relief if pressures persist under President Donald Trump.
13 Articles
13 Articles
Donald Turmp's 'tariff crossing' is beginning to choke distribution in the United States and the first to openly express it has not been any but the biggest retailer in the world: Walmart. He did so during the telephone conference with analysts, after presenting the results of the second quarter of his fiscal year in which he reported an increase in the profit attributed from 56.1% to 6,032 million euros (7,026 million dollars) and revised his f…
Farmers are struggling thanks to Trump’s policies even as food prices at our grocery stores are going up and up — The South Dakota Standard
The year so far has been a tough one for corn and soybean farmers, not just in South Dakota, but throughout the country. Soybean prices are considerably lower than they were during much of the Biden administration. Same goes for corn prices. Adding to the financial squeeze created by weak markets, the cost of farmer inputs, mainly fertilizer, just keeps going up and up. Bloomberg reports that “the sweeping effects of the president’s trade war ar…
Top retailers in the United States, such as Walmart and Home Depot, recently presented their financial results and offered an overview of how they are facing the Trump administration’s increased tariffs. Although costs have risen, companies have deployed measures to contain widespread price increases and protect the consumer. YOU CAN SEE: Walmart shock: man guilty of deadly shooting sentenced to death Consumer spending remains solid So far, hous…
Tariffs ‘starting to show up’: how Trump’s strategy could increase back-to-school costs
Summer is drawing to a close and as parents and children get ready for a new school year, their first lesson will be in economics. Most of Donald Trump’s tariffs went into effect at the beginning of August. We are still waiting on a deal with China. But with school supplies so dependent on…
Coverage Details
Bias Distribution
- 80% of the sources are Center
Factuality
To view factuality data please Upgrade to Premium
