Trump 2.0 Administration Golden Years

[Giantone]

Originally Posted by Fishingfool

I own an insurance agency and while I don't have to deal with tariffs but inflation the past years has had a big affect on rates. My good friend owns a fabrication shop and has to deal with tariffs I thought. When I asked him he said they had zero affect as he pays more for US steel already.

Inflation is up.

The latest PCE report indicates a rise in inflation, with prices increasing by 2.6% in June compared to a year ago, up from 2.4% in May. This increase is partially attributed to tariffs imposed by President Trump, which are pushing some prices higher according to CBS News, reports Reuters.

As for your friend................
US steel prices are up primarily due to the recent increase in tariffs on imported steel, making domestic steel more attractive and allowing producers to raise prices. Additionally, rising demand, driven by factors like infrastructure projects and increased manufacturing activity, is also contributing to higher prices.