GOLDMAN: “.. We estimate the
proposed tariffs would boost the US effective tariff rate by 8.6pp and core PCE prices by 0.9% if implemented ..”
proposed tariffs would boost the US effective tariff rate by 8.6pp and core PCE prices by 0.9% if implemented ..”
Comments
Jan 20: executive order that says the tariffs are happening at date X
Between Jan 20 and date X, victory will be declared— immigration has stopped, fentanyl has stopped, Trump did it!
No need for the tariffs, they’re canceled. Look at how well Trump negotiated for America!
pp=percentage point; PCE= prices that people in the US pay for goods and services.
An effective tariff takes into account any additional costs, such as transportation expenses and customs duties, that affect the final price of the imported goods.
In 2023, Mexico supplied 63% of US vegetable imports and 47% of US fruit and nut imports.
US Imports from Mexico was US$480 Bio in 2023.
Not sure why Goldman excludes food here.
TRUMP threatens tariffs but doesn’t do much (kinda like wall).
MAGA: cheering!
WE: predict higher prices
Later …
TRUMP declares victory over fentanyl crisis through tariffs.
MAGA: cheering!
WE: “it’s a lie!”
MAGA: “shut up, you said tariffs would increase prices”