Federal Reserve study: Trump tariffs raised U.S.-made goods prices by 2.9%
New York Fed research finds tariffs inflated consumer goods prices across both imports and domestic products, with one month until midterm elections.
Part of a larger narrative
El-Sayed Michigan Gubernatorial Campaign
- US inflation jumps to 3.7% in final CPI report before midterms
- Federal Reserve study: Trump tariffs raised U.S.-made goods prices by 2.9%you are here
- September CPI hits 3.7%, inflation's worst pre-midterm reading in decades
- Fed minutes signal another rate hike likely before year-end despite Trump pressure
- Trump's "greatest economy" claim collides with rising gas and inflation data
What to know
- Federal Reserve Bank of New York study quantifies tariff impact: 2.9 percentage points added to consumer goods inflation through February 2026, affecting both imports and U.S.-made products.
- Prices would have fallen without tariffs; instead they rose—undermining Trump's promise that tariffs would benefit American consumers.
- White House argues tariffs will ultimately benefit workers by forcing foreign exporters to absorb costs; economists express skepticism about consumer relief while tariffs remain.
- Timing is politically significant: findings emerge one month before midterm elections with consumer affordability a key issue.
Donald Trump President of the United States
Taylor Rogers White House spokeswomanScott Lincicome Vice president of general economics, Cato InstituteFederal Reserve Bank of New York Research institution
How it unfolded 0 developments, newest first · click a bar or a number to jump
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Economist warns consumers unlikely to see relief while tariffs remain in place — Scott Lincicome, vice president of general economics at the Cato Institute, said consumers will not see significant price relief as long as tariffs stay in effect, noting uncertainty about whether prices will stabilize or continue rising.
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White House defends tariffs as beneficial to American workers — The White House rejected the study's findings, arguing that tariffs will ultimately benefit U.S. workers and be paid by foreign exporters. Spokeswoman Taylor Rogers stated the administration's position that tariffs are reshaping the international economic order.
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Federal Reserve Bank of New York releases tariff impact study — The New York Fed released research finding that Trump's tariffs added approximately 2.9 percentage points to consumer goods inflation. The study found that tariffs raised prices on both imported goods and American-made products, with about two-thirds of the increase from imports and one-third from domestic goods.
What people are saying 14 voices from 3 sites · best of 19 · verbatim
- Today
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TRUMP PUSHED COSTS UP ON ALL GOODS American-made goods also got more expensive under Trump tariffs, new research finds. #corruption #tariffs #inflation
- Yesterday
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Trump: People say tariffs cause inflation. They don't. We have very little inflation. (Inflation has outpaced wage growth for the past six months in a row)
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https://www. europesays.com/us/1120791/ Inflation report: Prices are up and real wages are down, thanks to Trump’s policies. # AdNode :news_and_politics/the_slatest # Business # Economy # redux # Section :newsAndPolitics # UnitedStates # UnitedStates # US
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Trump’s tariffs made American-made goods more expensive too, per New York Fed research highlighted by Fox News. Tariffs added about 2.9 percentage points to consumer goods inflation by early 2026. About two-thirds of that came from imports. But roughly one-third came from
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BREAKING: Trump’s tariffs made American-made goods more expensive too, per Fox
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Yep, Trump did this all by his lonesome: A Federal Reserve Bank of New York study concludes that his tariffs inflated consumer prices almost 3 percentage points across 67 categories of goods and that those prices would have fallen otherwise. Payback on Nov. 3.
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Trump tariffs also caused ‘Made in America’ prices to go up, NY Fed finds https://www. bocvip.com/1507595/trump-tarif fs-also-caused-made-in-america-prices-to-go-up-ny-fed-finds/ # Bonds # business # CurrentTrends # economy # Investment # IPOs # predictions # stocks
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From the NY Fed: Trump 's tariffs contributed 2.9% to price inflation-- which is to say, nearly ALL of it. Without his barrage of tariffs, prices would have fallen slightly.
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Trump's tariffs drove up consumer goods inflation by 2.9 %. Without them, prices would have fallen. That's the cost of Trump's economic agenda.
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Remember when he said he would lower costs on day 1? Turns out, that was another broken promise. Even the cost of American-made goods is skyrocketing because of his tariffs.
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It's perfectly obvious, but until now Fox News has routinely denied it: the inflationary impact of Trump's tariff wars on consumer goods in the US.
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This article should be read in tandem with this report from the NY Fed that looked at causes of inflation *prior to* the Iran invasion, and concluded it was "entirely" due to Trump tariffs.
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Trump said prices would fall on Day One. Nine months later inflation is 3.7%, core blew past forecasts, and real earnings fell half a percent. But sure, the tariffs are paying for everything. You are paying for everything.
- Oct 8
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New report says that Trump’s tariffs are entirely responsible for stuff being more expensive. If only there were some upcoming opportunity to hold his party accountable for this.