Martha Gimbel
Appearances
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Tariffs will boost prices a lot — here's how much
That's going to cost you quite a bit more, probably around 45%. Wow.
Consider This from NPR
Tariffs will boost prices a lot — here's how much
We really don't produce a lot of clothing in the United States. We import almost all of it. And so these really heavy tariffs, particularly in countries like Vietnam, are going to really hit clothing more than almost anything else. I should also take this moment to say I'm giving specific numbers here, but this is an ever-changing situation.
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Tariffs will boost prices a lot — here's how much
And so as, you know, more retaliatory tariffs are put on, as other countries retaliate against us, the numbers just go up and up.
Consider This from NPR
Tariffs will boost prices a lot — here's how much
Yeah, it's not going to be good if you need to buy new clothes for your rapidly growing kid.
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Tariffs will boost prices a lot — here's how much
So I have excellent news for you on the sugar front.
Consider This from NPR
Tariffs will boost prices a lot — here's how much
Prices are only going to go up about 4%.
Consider This from NPR
Tariffs will boost prices a lot — here's how much
We do have more domestic production of sugar. And so, you know, even though you will see domestic producers raising prices, you just won't see the same impact. So if you're hoping to indulge your sweet tooth to help you get through this moment, relatively speaking, it's a good place to be.
Consider This from NPR
Tariffs will boost prices a lot — here's how much
Ooh, you mentioned rice. I regret to inform you the price of rice is going up by about 27%. Drat.
Consider This from NPR
Tariffs will boost prices a lot — here's how much
Ooh, about 16%. Okay, 16%. Why is that? Again, we don't really produce rubber in the United States. I hate to laugh, but this is just a reminder that there is a lot of stuff that we don't produce in the United States. And we have really had a huge advantage from global supply chains that have allowed us to buy a bunch of things relatively cheaply.
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Tariffs will boost prices a lot — here's how much
So at the moment, pharmaceuticals have been exempted. However, they are talking about imposing tariffs on pharmaceuticals. And if they do that, we think that prices will rise about 15%. So I might buy your aspirin now.
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Tariffs will boost prices a lot — here's how much
So at the moment, gas is not being tariffed. But I think it is really important to talk about the fact that gas prices have been going down. Because you might hear that and think, oh, thank goodness. But the reason they're going down is that markets think we're going into a recession, at which point we'll all start using less gas. And so oil prices going down is not actually a good sign.
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Tariffs will boost prices a lot — here's how much
I hadn't thought about that, but I assume that that is in fact playing a role.
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Tariffs will boost prices a lot — here's how much
Yeah, so on average, we're seeing that prices will go up about $4,600 for people.
Consider This from NPR
Tariffs will boost prices a lot — here's how much
It's a lot of money. Most people do not have that amount in their budget just ready to hand out. We should say this will impact people at the bottom of the income distribution more relative to their income than it does people at the top.
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Tariffs will boost prices a lot — here's how much
I mean, also think about tariffs, right? They're placed on goods. So poor people tend to spend more of their income on goods, right? If you have a tight budget, you're buying food, you're buying gas. If you're richer, you may be paying more services, right? You're paying for tutors for your kids. You're paying for a dog walker. Those are not tariffed.
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Tariffs will boost prices a lot — here's how much
Well, the biggest loser is Canada. But after them, the second biggest loser is us. So congratulations to us.
Consider This from NPR
Tariffs will boost prices a lot — here's how much
China doesn't do well, but it does do slightly better than the United States. I should say you'll see places like the EU or the UK actually do better in the long run as world trade adjusts to the new reality. So it just speaks to the way that we're really taking ourselves out of the global economy.