With the Trump administration’s tariff details set to be released on April 2, attention is turning to their potential impact on consumer prices. Importers, especially those dealing with China, are already seeing inflationary effects, and recent data from the Bureau of Labor Statistics hints at further challenges. Meanwhile, American exporters to Canada and Mexico have gained pricing power as those countries frontload supplies in anticipation of retaliatory tariffs.
Despite expectations of a slight decline in February import prices, they rose by 0.4%, pushing the annual growth rate to 2%. This marks the largest monthly gain since April 2024 and a shift from last year’s trend, when import costs fell by 0.9%.
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