Chuck DarwinJust six months after he regained power, in part by promising to rapidly reduce prices, Trump has presided over the chaotic rollout of tariffs on an array of overseas products that many have argued risk having the exact opposite effect.
After a lull, the consumer price index (CPI) is back on the rise. In June, everything from fruit and washing machines to dresses and toys became more expensive.
Businesses in the US and around the world have struggled to keep up with the Trump administration’s erratic rollout of its aggressive trade strategy:
the daily White House soap opera of warnings, threats, confusion, deadlines, delays and drama.
Putting to one side the steady stream of twists, cliffhangers and all-caps declarations, each episode has pushed US tariffs higher.
AA The overall average effective tariff rate is now set to hit 20.6%, according to the non-partisan The Budget Lab at Yale, its highest level since 1910.
Eventually, someone has to foot the bill
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