“Trump’s trade war may soon hit consumers’ wallets and paychecks.”
–NBC News, July 18, 2018
“Tariffs will surely lead to higher prices for imported goods and, to a lesser extent, prices for non-imported goods that use imported materials.”
–Wharton School of Business, University of Pennsylvania, July 18, 2018
“Tariffs are about to hit consumers, and it won’t be pretty.”
–CNBC, July 25, 2018
“Trade restrictions, by their nature, result in price increases for the goods in question. If the price of steel and aluminum goes up, manufacturers will be forced to pass those costs onto American consumers.”
–The Heritage Foundation, March 2, 2018
U.S. core consumer price* index year on year, November: +0.1 percent
U.S. core producer price index** year on year, November: +0.5 percent
*commodities less food and energy
**final demand goods less food and energy
(Sources: “Trump’s trade war may soon hit consumers’ wallets and paychecks,” by Ben Popken, NBC News, July 18, 2018, https://www.nbcnews.com/business/economy/trump-s-trade-war-may-soon-impact-consumers-wallets-paychecks-n890576: “Tariff Troubles: Will Consumers Feel the Pinch?” Public Policy, Knowledge@Wharton, Wharton School of Business, University of Pennsylvania, July 30, 2018, https://knowledge.wharton.upenn.edu/article/trumps-tariffs-will-impact-average-consumer/; “Tariffs are about to hit consumers, and it won’t be pretty,” by Jeff Cox, CNBC, July 25, 2018, https://www.cnbc.com/2018/07/25/tariffs-are-about-to-hit-consumers-and-it-wont-be-pretty.html; “3 Reasons Why Trump’s Tariffs Would Hurt American Workers,” by Tori K. Smith and Jay Van Andel, Commentary, The Heritage Foundation, March 2, 2018, https://www.heritage.org/trade/commentary/3-reasons-why-trumps-tariffs-would-hurt-american-workers. All compiled in “Christmas Miracle: Rising Wages and Low Inflation Promise a Very Merry Holiday Season,” by John Carney, Breitbart.com, December 11, 2018, https://www.breitbart.com/economy/2019/12/11/low-inflation-christmas/. “Consumer Price Index – November 2019, USDL-19-2144, News Release, Bureau of Labor Statistics, U.S. Department of Labor, December 11, 2018, https://www.bls.gov/news.release/pdf/cpi.pdf; and “Producer Price Indexes – November, 2019, USDL 19-2146, News Release, Bureau of Labor Statistics, U.S. Department of Labor, December 12, 2018, https://www.bls.gov/news.release/pdf/ppi.pdf)
