There is no single way to predict how businesses will price items weeks or months into the future as, in addition to tariffs, they are influenced by things like consumer demand, sales strategies, and supply chains.

A number of factors, including a lack of significant gains in auto prices, are masking the extent of the shift.

President Donald Trump swept into office in January with a promise to tackle what he called the "inflation crisis" that had kicked off under his predecessor. "I will direct all members of my cabinet to marshal the vast powers at their disposal to defeat what was record inflation and rapidly bring down costs and prices,

Indonesia also has agreed to purchase billions in U.S. energy, agriculture products and airplanes, Trump said July 15 in a social media post.

Elizabeth Warren introduces a price gouging bill to target big companies that use market shocks including a trade war to push through excessive price increases.

President Donald Trump in recent days slapped tariffs as high as 50% on dozens of countries, restoring the type of aggressive trade policy that sent stocks plummeting a few months ago. The new round of levies prompted little more than a shrug on Wall Street.

The hottest question in economics is why the massive price hikes tariffs were supposed to bring still haven’t materialized halfway through 2025.