Trump administration tariffs imposed this year on dozens of nations and a range of industries are fueling inflation, especially for goods that are widely imported into the U.S., a recent analysis shows.
Product categories seeing some of the biggest price hikes due to tariffs include furniture , car parts, electronics and musical instruments, according to economists at the Federal Reserve Bank of St. Louis. The findings are based on research models estimating tariff-related price hikes and drawing on Personal Consumption Expenditures (PCE) data, a widely used gauge of inflation.
Importers bear the cost of tariffs, typically passing at least some of the added expenses to consumers, economic research shows.
The St. Louis Fed researchers found that companies passed 35% of tariff