18 Mar 2025 7:58 am
Recent history indicates they are not a huge factor (if a factor at all). During his first term, Trump imposed tariffs in March 2018. Subsequent inflation rates ranges from a high of 2.9% (June 2018) to a low of 0.1% (May 2020). Without tariffs during Biden's term, inflation reach a almost 40 year high of 9.1% (June 2022) and a low of 1.7% (his first full month). In fact, that was the ONLY month inflation was lower than Trump's highest rate.