Harvard Economists Estimate Trump Tariffs Increased U.S. Inflation

Economists at Harvard University have estimated that tariffs implemented under former President Trump's policies contributed to an increase in the overall U.S. consumer price inflation rate.

These import taxes are estimated to have raised the inflation rate by approximately 0.92 percentage points in January 2025.

This increase is relative to what the U.S. consumer price inflation rate would have been without the implementation of these tariffs.