Will Trump's tariffs drive up prices? Maybe.
Americans could soon see price hikes thanks to Trump’s trade war.
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Have Trump's tariffs driven up prices? Not so much yet.
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So, has anything actually gotten more expensive because of Trump’s tariffs?

By
David Goldman, CNN
8 minute read
Updated 9:36 AM EDT, Fri June 20, 2025
US retail sales fell for a second straight month in May, suggesting anxiety over tariffs and personal finances prompted consumers to pull back after an early-year spending rush.
David Paul Morris/Bloomberg/Getty Images
CNN —
Predictions from mainstream economists were dire after President Donald Trump launched his tariff campaign just a couple weeks after he began his second term in office: Prices would rise — sharply — they said, reigniting an inflation crisis that tens of millions of Americans had elected him to solve.
But that massive, tariff-induced inflation spike hasn’t materialized. Not even close.
Not yet, anyway.