American-made goods also got more expensive under Trump tariffs, new research finds
Americans aren't just seeing the price tag increase for imported goods. Thanks to President Donald Trump's tariffs, they are now paying more for products made in the U.S.A., according to...
By Fox News · Fox News
Americans aren't just seeing the price tag increase for imported goods. Thanks to President Donald Trump's tariffs, they are now paying more for products made in the U.S.A., according to new research from the Federal Reserve Bank of New York. In fact, the research finds that prices for many everyday goods would have fallen last year and into early 2026 without Trump's tariffs. The findings offer new evidence of how the sweeping tariff policy, a centerpiece of the president's economic agenda during his second term, have affected Americans’ wallets — and it's only getting worse with just one month until the midterm elections. TRUMP BET TARIFFS WOULD BRING BACK AMERICAN FACTORY JOBS. NEW REPORT SAYS IT DIDN'T WORK Economists had long warned that tariffs would drive up consumer prices, but measuring their precise impact has been difficult as trade policies shifted and companies made decisions about whether to absorb higher costs or pass them along to shoppers. Put simply, the New York Fed found that tariffs kept prices higher on many of the goods Americans buy every day. Without the tariffs, prices across the consumer goods examined for this study would have fallen by early 2026. Instead, they rose. The researchers estimated that tariffs added about 2.9 percentage points to prices across the goods they studied. And the impact, notably, was not limited to imported products facing the most fallout from tariffs. The New York Fed found that Trump's policies pushed up prices on American-made goods. Researchers estimated that about two-thirds of the tariff-related price increase came from imports, while roughly one-third came from products made in the United States. FLOURISH CHART SHOWING FED FINDINGS: 30552508 The White House pushed back, arguing that tariffs will ultimately benefit U.S. workers and be paid by foreign exporters. "President Trump’s America First trade agenda is reshaping the international economic order to reduce our trade deficit, revitalize American manufa…