Tyler Schipper, an economist and associate professor in the College of Arts and Sciences at the University of St. Thomas, spoke to CNN about the impact of tariffs on inflation. Economists have warned that new tariffs introduced by the Trump administration would send prices soaring. Recent CPI data shows increasing tendencies.
From the story:
Economists, researchers and analysts have warned that President Donald Trump’s sweeping trade policy of tacking steep tariffs on most goods that come into America will deliver a taxing blow to consumers via higher prices. ...
Goods prices – particularly in tariff-exposed categories – are already on the rise, both private-sector and federal data shows.
But even if inflationary impacts are “modest,” the effects on Americans could cut deeper, said Tyler Schipper from the University of St. Thomas.
“Right now, I am less concerned about inflation building on itself,” Schipper said. “There’s still a cost to consumers that are struggling.”
