When you walk into Walmart, you may find that some products have quietly raised their prices. This is not an illusion. In June, the monthly increase in home appliance prices in the United States reached 1.9%, setting a record high since August 2020; the price of home textiles soared by 4.2%, breaking the historical record. Behind these figures are the layers of tariffs imposed by the Trump administration on imported goods: 25% of auto parts, 50% of steel and aluminum, and even threatening to increase taxes on semiconductors. According to Yale Budget Laboratory data, the average U.S. tariff rate has soared to 18.7%.

Although the official CPI data has not fully reflected the impact, companies have already taken action. Ford Motor has increased its model price due to tariff costs and estimated its revenue will decrease by US$1.5 billion this year; automakers such as Subaru and GM have also adjusted their pricing. Business leaders have repeatedly warned that tariff costs will eventually be passed on to consumers. The Trump administration is still increasing its investment: in early August, 30% tariffs were imposed on the EU and Mexico and 35% tariffs were imposed on Canada. If these policies are fully implemented, price pressure will further intensify.