- Economists are waiting to see how damaging Trump’s tariff agenda may be, with inflation impacts so far limited—but Senator Elizabeth Warren warns the real cost is long-term, as global partners begin to see the U.S. as an unreliable trade ally. While the White House touts tariffs as a win for American voters, Sen. Warren told Fortune they’ve driven up costs, delayed manufacturing investment, and forced the Fed to keep interest rates higher than it otherwise would.
Economists are split on how damaging President Trump’s tariff agenda may turn out to be. Some are worried it will boost inflation, while others argue a universal 10% hike to imports introduced months ago have barely blipped in inflation data.
