Tariffs will drive up U.S. prices even with Trump trade deals, experts say
Tariffs will drive up U.S. prices even with Trump trade deals, experts say
With the Trump administration setting 15% as a floor for tariffs, companies and economists are warning of higher prices later this year.
Read the full article on CBS Money
Truth Analysis
Analysis Summary:
The article is mostly accurate in its assertion that tariffs can lead to higher consumer prices. Multiple sources support this claim, although the extent of the impact is debated. The article exhibits a slight bias by focusing on the negative impacts of tariffs without presenting potential benefits or counterarguments.
Detailed Analysis:
- Claim: The Trump administration is setting 15% as a floor for tariffs.
- Assessment: Unverified. The provided sources do not directly confirm a 15% floor, but they do discuss tariffs imposed by the Trump administration.
- Claim: Companies and economists are warning of higher prices later this year due to tariffs.
- Verification Source #1: Economists raise concerns that tariffs will drive up inflation and the costs of goods.
- Verification Source #3: Trade experts say costs are typically passed onto American consumers.
- Verification Source #4: Tariffs drive up prices.
- Verification Source #5: Economists say consumers foot the bill from these kind of trade actions.
- Assessment: Supported. Multiple sources confirm that economists and trade experts believe tariffs lead to higher consumer prices.
Supporting Evidence/Contradictions:
- Source 1: Some economists doubt Trump's approach will achieve its desired goals and raise concerns that tariffs will drive up inflation and the costs of goods.
- Source 3: ... costs are typically passed onto American consumers, trade experts ...