President Trump’s new round of “reciprocal” tariffs kicks in today, a shift that focus attention anew on forecasts by many economists that the levies on imports will raise inflation, if only temporarily. The outlook will be stress-tested with next week’s July data for the consumer price index (CPI), set for release on Tues., Aug. 12.
Daily Archives: August 7, 2025
Macro Briefing: 7 August 2025
Trump’s new tariffs take effect today, affecting imports from dozens of countries. Most imports into the are now subject to a baseline 10% duty, with the overall average effective tariff rate rising to more than 17% — the highest since 1935.
