"The big picture: Global tariffs are putting upward pressure on costs. U.S. businesses are bearing the brunt, contrary to White House hopes that foreign suppliers would take some of the hit.
Between the lines: Import prices might cool if exporters around the globe were discounting goods to help ease the tariff burden for their U.S. buyers.
But the opposite was the case last month: Import prices rose at the quickest pace this year, "casting further doubt on the 'foreigners will pay' talk from the administration," ING global economist James Knightley writes.
Threat level: Wholesale prices rose at the fastest pace in three years last month higher costs that might be passed on to the consumer down the line.
Fresh and dry vegetable prices rose by almost 40% last month, the largest spike since inflation took off in 2022."
Axios
Cancel my subscription to the Resurrection
Send my credentials to the House of Detention
“I love Cal deeply. What are the directions to The Portal from Sproul Plaza?”
