Dozens of questions: How are Trump's auto parts tariffs affecting the broader economy?
Prices are still expected to rise as tariffs fuel uncertainty among consumers — especially if incomes don't increase to match.
Isys Morrow
In this article published July 11, 2025, on The Fulcrum:
What we've seen historically is that if you put a tariff on an import, which drives up the cost, domestic firms are all too happy to raise their prices even though they're not paying tariffs to match the price of that import.
— Dennis Hoffman, director of the Center for Competitiveness and Prosperity Research and the Office of the University Economist
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