Just about every influencer, economist, and politician predicted President Trump’s tariffs would unleash an inflation tsunami. Prices would spike and consumers would drown in a rising tide of costs.
Yet here we are, deep into summer, enjoying beach days and backyard barbecues. The price of lawn chairs and beach balls remains well within reach. So where’s the inflation?
Is it worth surrendering political and economic independence just to shave a few cents off the price of some Chinese-made junk?
According to the latest government data, inflation hasn’t surged. In fact, it’s lower than it was this time last year. The experts missed again. Why?
The short answer: Tariffs don’t necessarily drive inflation.
