NBC’s Jackson: Economists Predict Inflation Could Tick Up Nearly a Percent, if Trump Tariffs Go into Effect

EXCERPT:

JACKSON: “Remember, tariffs are a tax on things other countries send here, and those other countries don't pay the tax directly. It gets passed down to companies instead, and often to you. The U.S. relies on both Canada and Mexico for cars and car parts, from Chevy pickups to Chrysler minivans. So the auto industry now bracing for a blow, including in states like Michigan, which Mr. Trump won. Mexico supplies more than half the fruits and veggies coming into the U.S., meaning your grocery bill could rise too. Already, economists predict inflation could tick up nearly a percent if these tariffs go into effect.”