MoneyWatch The Trump tariffs aren't causing U.S. prices to spike.

Results of dear leader tariffs first term:
"A May 2019 analysis conducted by CNBC found Trump's tariffs are equivalent to one of the largest tax increases in the U.S. in decades.[20][21][22] Studies have found that Trump's tariffs reduced real income in the United States, as well as adversely affecting U.S. GDP."

"President Trump's tariffs were not generally considered successful. While he aimed to protect domestic industries and create jobs, the tariffs also led to retaliatory tariffs from other countries, harming U.S. exports and increasing costs for consumers and businesses. Studies suggest that the tariffs reduced real income and negatively impacted U.S. GDP"

The inflation we'll soon see will be in addition to these hits on the economy.

 

I’ll just say that one month’s inflation report is hardly a good reason to abandon two of the most fundamental precepts of economics.

1. When the cost of a good increases, so will its price.
2. Taxes don’t generate wealth. They only transfer it.

 

we keep getting promised by liberals that the gloom and doom economy will be coming but hasn't happened yet. Is there a day/month/year that this will happen?

 

As in the quotes in my post, seems that most economists do their best predictions ... historically. If you find any that gives you a day/month/year kind of response, I'd be wary.