From Rhino Reader James Bennett
Been shopping for kids returning to school lately? Done any grocery shopping recently? Buy any shoes? How about chocolate? Then you must have noticed dramatic price increases in all these things, and in many others.
Everyday items that have risen the most due to tariffs in 2025 include clothing, footwear, food items like coffee and fresh produce, electronics, automobiles, and household goods. Clothing prices have surged by about 37-40%, shoes by nearly 39%, fresh produce by about 7%, motor vehicles by over 12%, and coffee saw a 21% price increase. These price hikes reflect tariffs averaging around 18-19%, the highest since the 1930s, causing an approximate 1.8% overall price level increase for consumers this year.
The U.S. government has collected about $165 billion in tariff revenues so far in the fiscal year 2025 through August. This is more than double the $77 billion collected in the entire fiscal year 2024. In August 2025 alone, the Treasury Department reported collecting $30 billion in tariff revenues, quadruple the $7 billion in August 2024. The increase in tariff collections is mainly due to new or increased tariffs implemented by Trump..
Who paid this money to the government? You did, by paying those increased costs. Foreign companies simply pass the tax on to you. Tariffs are a hidden tax that Trump has single handedly foisted on the American people. Congress did not raise taxes, Trump did.
Tariffs are the worst tax scheme ever, and I don’t like it one bit.
James Bennett
HAHAHAHAHAHAHAHAHAHAHA. Such an unhinged post
I paid $4 for a large tomato at the Greensboro Farmer’s Market this morning. Absurd, are tariffs responsible for this inflation? Perhaps our disgusting escalating inflation could be a result of all the Wasteful Government Spending and/ or the Poor Leadership elected in the past?
There’s NO tariff on locally grown produce! Showing your ignorance with that comment….
Basic economics. If tariffs reduce the flow of imported goods in favor of locally sourced goods, the overall supply of those good drops. When supply drops and demand remains the same, prices go up. Eggs are a great example. While the local hobby farm selling eggs at the farmers market didn’t have to kill off their chickens, they still sold their eggs at inflated prices even though their costs didn’t change.
Can’t be sure that is what happened with Jim’s purchase, but it could be. Or that farmer just sold much higher quality produce as it was grown for quality versus yield which is also common with farmer market-based produce.
Hope that helps.
Duh? Ignorance is bliss for all those that can only blame inflation on Donald Trump!
Isn’t that what conservatives did when Biden led the country? Hypocrisy or do you have a perspective on another source of the growing cost of goods under Trump?
Jim, true! We also are paying Skip Alston’s tariffs on property taxes that support his friends free money.
Ahh noooo. That was Mr. Donaldson’s point. The tomato went from field to farmer to market and sucker who overpaid for it. But we have all been overpaying for everything these days, thank you Biden administration. No Tariff on local tomatoes. Go back and read carefully and don’t embarrass other Wolfpack fans with your less than stellar reading comprehension.
Ugh.
Yes there are tariffs on tomatoes. We are being charged 17% anti-dumping duty on tomato imports from Mexico in addition to the overall tariff on goods from Mexico. This keeps the cost of tomatoes higher in the US to support local tomato growers. So the 25% extra tariff on top of the already 17% tariff has increased prices of tomatoes recently. The farmer market sellers see prices go up in grocery store, so they also increase the price of their tomatoes because the can and it is the smart business move. Farmers market sellers of eggs did the same thing when bird flu ran up cost of eggs in the grocery stores. Basic economics.
Note that Mexico supplies around 70% of all tomatoes consumed in the US.
I encourage you to look these things up before you to comment. Facts matter even if Conservative leaders don’t want you to believe that.
FACT: Not mine. Will not buy imported tomatoes. Still getting them out of my garden thank you very much. Harvested a grocery bag of them just yesterday. They are a bit smaller than those in the summer, not pretty and have a few spots on them. You would probably not eat them, being a city boy and all. When I see a freeze coming, I pick the green ones to ripen indoors. So, I normally have fresh homegrown tomatoes until well into November. Don’t tell me about tariffs on canned tomatoes, as I can my own tomatoes, so I don’t know where they come from or even the price. If imported canned tomatoes get high tariffs, there won’t be a problem using only US produce. Next year the farmers will get the word and grow crops of tomatoes. As for the precious eggs. Only way I would entertain having hens is if it got to $1 an egg, so util it does, I buy them warm from the hen from my next-door neighbor, or I trade her for a bag full of tomatoes. (she doesn’t care if the tomatoes are not so pretty either) As you say, basic economics. So, no tariffs for me or my neighbor on the egg and produce market. I encourage YOU to think things through before piping off. Unlikely Mr. Donaldson paid $4 for anything but a home grown tomato. Doubtful it was from NC. but probably tariff free Florida, Ga or SC.
I have started my own hobby farm and am excited to learn about canning as well. Not everyone has the ability or time but it certainly helps.
maybe that was his point….the pain is coming from within…..
We last visited the farmer’s market a few weeks ago and decided we’d stop going. Why? The prices of the farmers (if they really are farmers) are generally the same as what you pay at your local supermarket. Maybe the farmers market needs to reduce the fees charged to the vendors. And of course, lots of vendors are not farmers.
Mr. Bennett, you must have been asleep the last four years if you believe those increases have occurred in the last three months.
Data says Mr. Bennet is right. Trump Derangement Syndrome is just another projection by conservatives. The real derangement is how MAGA folks ignore the truth about their dear leader’s impact on the US long-term and short-term economics (among many other things they ignore about Trump).
Note how the steepest part of the line is during 2025 for coffee for example:
https://www.macrotrends.net/3812/us-coffee-prices
Below is a good article on the tariffs impact on the cost of shoes:
https://ozziesmall.com/footwear-prices-surge-in-2025-how-tariffs-and-supply-costs-are-impacting-the-industry/
Of course, some prices have dropped since the Trump administration has alienated long-term trading partners with his bully approach to trade negotiations. Soybeans being the most impacted which is now bankrupting farmers:
https://www.accio.com/business/soybean_market_trends
A great source to see the impact of the tariffs in real time is below. As with the last trade war Trump started in his first term, the longer the tariffs stay in the place the greater the impact on cost of goods.
https://www.pricinglab.org/tariff-tracker/
Shake of the TDS and just look at the data. Mr Bennet isn’t wrong, and it is still early in the trade war per Trump as he ramps up more tariffs on things like Drug manufacturers…..so much for that mystical 1500% drop in drug prices.
Best Wishes
You left out . . .”but you be you”
maybe that was his point….the pain is coming from within…..
Bennett – You need to do some more research; your numbers are wrong. I’m not going to waste my time getting the correct ones. All the numbers you are citing, don’t result in an overall price level increase of 1.8% for this year. If that number is correct, you have nothing to complain about; refresh your memory of the Biden years.
President Trump is talking about checks to the American people of $1,000 – $2,000. One study indicates that the average family is paying $2,300 more per year; $2,000 would take care of most of that.
Also heard that the latest number for tariffs collected is $215 Billion.
https://www.pricinglab.org/tariff-tracker/
The above link gives more timely information as inflation tracking often lags by a quarter and cost impacts are really just starting to ramp up this quarter as many were waiting for TACO to settle on a rate which seems to be the case now. Notice in the charts how domestic goods have actually increased faster than imports. This is common as many domestic goods require imported parts and components. Including agriculture which imports many types of seeds, fertilizers etc…
Mr. Bennet is actually right as he seems to be using more up to date figures.
Best wishes.
Not sure where you are getting your data but it’s way off compared to the U.S. Bureau of Labor Statistics inflation calculator. The real numbers are as follows:
Apparel experienced an average inflation rate of
-0.07% per year. In other words, apparel costing $20 in the year 2024 would cost $19.99 in 2025 for an equivalent purchase.
Between 2024 and 2025: Fresh fruits and vegetables experienced an average inflation rate of -0.19% per year. In other words, fresh fruits and vegetables costing $20 in the year 2024 would cost $19.96 in 2025 for an equivalent purchase.
Between 2024 and 2025: Footwear experienced an average inflation rate of
-0.27% per year. In other words, footwear costing $20 in the year 2024 would cost $19.95 in 2025 for an equivalent purchase.
Between 2024 and 2025: New and used vehicles experienced an average inflation rate of 0.94% per year. In other words, new and used vehicles costing $20,000 in the year 2024 would cost $20,187.74 in 2025 for an equivalent purchase.
Maybe you should be more accurate on your research before reporting such data. Only thing that is up is cars and they are only up less than 1%. Just saying
So, about these tariffs. Trump has this idea that the government’s raking in so much cash; we could all be in for a sweet $1,000-$2,000. Not bad, right?
Hold up, Mr. President. You’re not trying to pull a fast one on us, are you? You’ve floated this idea before with the DOGE savings, hinting at a potential windfall for us regular folks.
First things first, let’s get that DOGE check sorted, and then we can dive into the world of tariff checks.
Firstly the tariffs will have to go to farmer who have been impacted by both the China abandonment of our ag industry and the cutting of USAID purchases of US ag products for feeding the hungry around the world. Secondly, as Mr Bennett is pointing out, YOU are already paying for the tariffs so a partial refund of those payments (read as tax on working class) is only a positive event if you ignore the truth of who is paying for the tariffs.
I never meant to retire into POVERTY….when is all that stolen monies going to be returned to the TAXPAYER?
Buy American-made products and forget about tariffs!
If you look at data, you will notice that domestic goods prices are increasing as well and even faster in come categories. We operate in a global economy where many of the inputs for domestic products are purchase from overseas sources.
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Yeah, nearly as insidious and stealthy as inflation, aren’t they?
Don’t bother me one bit, more concerned about Obama care making everyone’s health care cost go through the roof 400% increase
You mean because the current administration let the subsidies expire to further spike insurance premiums? You know, the ones that democrats want to save and are fighting hard to get put back in place? Or how the Medicaid cuts will end up adding more financial stress to rural hospitals? Those causes of increased cost of healthcare?
. . . “the current administration let the subsidies expire”
I support the elimination of subsidies since they mask the real cost of goods and services. Subsidies (e. g, taking money from us and giving it to companies) are a way for government to give companies or organizations financial support (e.g., tax breaks) to keep the revenue of companies rely on to remain solvent. Where is the law of supply and demand?
This is nothing compare to the Democrats high property taxes we have to pay. Plus the high car taxes.
There’s NO tariff on locally grown produce! Showing your ignorance with that comment….
You said it, brother !
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“Data! Science! Facts! Experts! * Chris thinks he’s some kind of genius because he lays claim to these ad nauseam. But all he’s doing is regurgitating some Left wing propaganda he’s unearthed somewhere that buttresses his misconceptions. Studies are a dime a dozen and can be designed to prove anything.
And as Disraeli said, there are “Lies, damned lies, and statistics”… and plenty of fools to swallow them.
Don’t let Chris fool you. One fool in these columns is enough.
Only a conservative would be upset by having data and facts added to a conversation. Not shocked.
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It’s a fact that Israel is spelled I-S-R-A-E-L. You know, unless you’re “anti-semantic” . LOL!
To all the broke, delusional MAGA cult members still foaming at the mouth for Trump and his Republican circus…let’s be honest: you’re not patriots, you’re walking proof that propaganda works. You’ve been conned so hard you now cheer for the billionaires who treat you like dirt and laugh at you behind closed doors. You think you’re “owning the libs”? No, you’re just owning yourself.
Every time you vote red, you’re basically begging the rich to keep stepping on your neck while you thank them for the boot. They take your jobs, your healthcare, your schools, and your dignity…and you still line up wearing your $5 MAGA hats made in China like it’s a badge of honor. You’re not fighting for America; you’re fighting for your own oppression with fireworks and Bible quotes.
You’ve turned ignorance into a lifestyle and poverty into a political statement. The billionaires you worship wouldn’t even piss on you if you were on fire…but somehow you think they care about your “freedom.” Keep it up, geniuses. The only thing you’re “making great again” is the gap between the rich and the rest of us.
At this point, MAGA isn’t a movement…it’s a self-inflicted wound on America’s forehead that won’t stop bleeding stupidity.
.
Thank you for your opinion.
That, and a Dollar, will buy you a cup of coffee (small).
Excellent point, dear American!
If I’m bleeding stupidity, doesn’t that mean I’m getting less stupid? Terrible symbolism. Way to extend the old olive branch by appealing to our better nature. Dems seem to think they will gain support by insulting the masses. Great plan.
I’m not broke. Worked all my life and if not for taxes, would be pretty rich. Never asked the government for anything, though they sure take. We have plenty of money in the government right now, it’s just not being spent wisely. Healthcare and schools are two of the most mismanaged, overly pencil whipped entities in America. Look at Guilford County schools, run by Dems by the way. What a joke. Maybe if you had a better education, you could have come up with better symbolism.
I suspect they are referring to the lower income rural white American’s who brought Trump to power.
But to be clear, the taxes you pay do a great deal for you in terms of retirement support (income and medical), roads and other transportation services, they keep the poor off the streets as which also keeps crime down, national defense, supports education system to keep our productivity growing, protects our environment, national lands, and climate. It also used to drive our technological advancement with investment in cutting edge research.
But the sad thing that conservative miss is that due to REPUBLICAN deficit spending, far too much of our taxes goes to supporting the debt interest with no hope now of actually reducing the debt burden. Conservatives unfunded tax cuts is one of the main culprits of that massive debt (dating back to Reagan). The due date will come soon for us as we will face austerity measures as many other fiscally irresponsible countries like us have had to face. THEN you will really hate paying taxes.
Best wishes
I am aware that the government provides services, Dummy. My point is that those services are overly bloated, filled with needless beauracracy, and poorly managed. The government should be focused more on efficiency than growing itself every year. DOGE was a first attempt at that, but the system largely refused to budge. Hopefully, that effort gains more footing over the next few years.
And no, I will not be partaking in “income” offered by the government, aka Social Security, aka redistribution of other people’s money. I’m ok on my own because I planned ahead. Thanks, Dummy.
DOGE was attempting to find fraud. They failed (because there really isn’t any fraud within these departments) and just randomly cut programs and services to the point that they had to rehire many critical functions. Heck, they even cut resources that paid for themselves at the IRS (so Trump and his friends could continue cheating taxes) Efficiency is certainly difficult to manage but really the spending problem in the US is debt interest that is growing as conservatives keep cutting taxes to fuel more debt growth.
So you skipped social security contributions? So, unless you are a pastor or a priest, you committed tax fraud? or are you planning on giving your social security back to the government?
I didn’t say I didn’t contribute, dum-dum. Just said I won’t be taking a payout. I like how you go straight to assuming I’m a criminal though. Nice.
DOGE tried to do much more than simply find fraud, like making it known about the ridiculous paper retirement system hidden in the mountains as one easy example. Sadly, the bureaucracy holds.
You aren’t going to take a payout? Weird. Good luck with that strategy.
Most people who have paid in, accept the payout even if they don’t need it…..but thanks for your years of contribution for no return.
Don’t need luck. Worked hard and planned ahead, unlike you I guess, dummy.
Lol, I am just fine financially for my retirement. While I have a nice personal savings, I will also happily accept my social security.
FYI, I used to design and develop retirement planning software for the insurance industry.
Of course you will. Perfect Dem. Take something you don’t need that was subsidized by other people’s money. (Sure. You probably paid in, but not as much as you hope to take out.) And people wonder why the government is running out of other people’s money.
I paid in far more than I will get back out, I promise. When we model retirement we split the analysis between fix costs (housing, food, etc…) and variable or elective costs (Travel, capital purchases, etc…). Then we match fixed income (social security, pensions, etc…) with the idea being that have a secure retirement plan include having fixed or guaranteed income to cover your fixed expenses and your variable assets (401k, Roth, cash, etc…) to use for your variable or elective expenses.
I only have a small defined contribution pension, so I value the guarantee of the SS income stream to protect me from dramatic loses in the financial markets.
Smart retirement planning that protects my future but allows me to continue to benefit from higher market returns found in the equity markets.
Hope that helps.
Sure you paid more than you put in, because you’re rich, never wrong, and a philanthropist, and anything else you need to be to prove your point. Got it.
You just said above that you were taking it but didn’t need it. (“I am just fine financially in my retirement”) Most people (not you of course, because you’re so special) take out more than they put in, which is why social security is always on the edge of failure. So did the big retirement planning software designer not do a good enough job in actually planning his retirement or are you taking something you don’t need? You can’t be rich and successful yet also need social security.
And none of your typo filled explanations do anything but make you seem condescending. I know how retirement planning works, which is why I don’t need social security, dummy.
Oops, I meant you said that you’ve paid in more than you took out…right. Even though you can’t know that because you’re still taking money back out of the system and will do so until you pass away. Even then your spouse might be able to continue withdrawing on your account under certain circumstances. So to say you haven’t taken out as much as you’ve put in is disingenuous at best.
No, I said I NEED the guarantee of SS to cover my fixed expenses. Basic retirement planning. Give it a read again.
FYI, I am not rich. I am financial stable at the moment but that can always change. It looks like we are in for a major market adjustment plus downturn so have been shifting to safer holdings such as gold and fixed returned assets to lock in my current returns for the year. I am not a financial adviser. Just sharing my personal view on my best guess for investing in uncertain times.
Nah, you said you paid far more into SS than you have or will take out, which is typically reserved for higher income earners. Real retirement planning should not be planning on the government to take care of you. That’s foolish.
Real retirement planning uses all the tools available to help cover cost of living after a long career.
Best wishes
False. Social Security should be reserved for those who absolutely need it, not for people who promise they have put far more into the system than they will take out, such as yourself. The whole social security system is just forced redistribution of wealth anyway. People like you are overburdening an already overtaxed system and will just make it fail faster.
Check out Don being a fan of socialist type policy. LOL
Nowhere did I express acceptance of or favor for Social Security. In fact, I called it forced redistribution of wealth, dummy. It is a failed system, just like all socialist policies. It just hasn’t died yet, but please do keep using a system you don’t absolutely need to help it die faster. So dumb.
Curious, if it’s true that paying for tariffs is all on us, then why are other countries concerned about them and willing to negotiate? Just trying to learn…
The tariffs increase the cost of their goods in the wealthiest market in the world (The US). When prices increase, demand decreases. Thus, their businesses are negatively impacted. Since these tariffs cover all goods from a country, it potentially hurts that country’s GPD which hurts their overall economy.
Note, most countries were ok with 10% to 15% tariffs as US importers of those goods are more likely to absorb those costs and thus pass less of the cost on to consumers as price increases. This is a temporary effect that over time will lead to pushing up of prices, but it gives those countries time to work out trade agreements elsewhere to offset any future loss of growth in the US markets. Hence you see countries opening trade agreements such as Japan, South Korea and China opening their trade to counter the impact of the US. Meaning, we lose long-term and they gain long-term. So it isn’t America First. It is America alone. Which isn’t a good thing.
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It’s impossible for tariffs to cause inflation. Tariffs on foreign imports are essentially a tax paid by US consumers, and are thus deflationary.
Even if you don’t understand this, you can probably see that taxes can’t cause inflation, and tariffs are taxes.
Raising taxes can cause the aggregate standard of living to drop, but can’t induce inflation. In fact it will cause deflationary pressure, other things being equal.
Austin, how did you manage to come up with this statement? Even if tariffs are taxes, the cost of those tariffs is ultimately passed on to the consumer and is therefore inflationary.
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An increase in the price of any product, or set of products is not inflationary. Inflation is when ALL products, services, charges go up systemically, and this can only be caused by an increase in the money supply. After all, if there wasn’t more money it would be impossible for ALL prices to go up, wouldn’t it?
Tariffs just reduce the standard of living of consumers (like all taxes), and reallocate resources away from imports. So they tamp down aggregate demand – and are therefore deflationary.
Higher prices for some products is not the same as inflation.
Hope this helps.
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PS
The fallacy in your argument can easily be illustrated. When a hurricane approaches the coast, the demand for plywood skyrockets, and so does its price.
Therefore, hurricanes cause inflation.
It’s patently absurd, of course.
The fallacy in your argument is that these tariffs are isolated. Given the broad nature of these tariffs it will be hard to find any product not either directly or at least indirectly impacted as there are very few if any goods that don’t have a foreign component or a foreign competitor.
My example of why local tomato prices are increasing is a great example. Sure, local tomatoes don’t have a direct tariff but as the price of tomatoes from South America increase, why wouldn’t the local farmer also increase the price of their tomatoes given that 70% of tomatoes we consume come from SA.
What product do we consume that won’t have direct price impact or supply impact from the Trump Tariffs?
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You have completely failed to understand.
Austin replied to my comment with the following PS: “The fallacy in your argument can easily be illustrated. When a hurricane approaches the coast, the demand for plywood skyrockets, and so does its price.
Therefore, hurricanes cause inflation.
It’s patently absurd, of course.”
Austin, a hurricane or other such incident is a one-off occurrence creating a supply and demand price increase on certain commodities, whereas Trump’s tariffs are impacting many products which directly raises the cost of living. If you want to call Trump a “hurricane, then I suppose your reply might be somewhat accurate. You are twisting this to suit your argument. If we were only seeing a price increase for one commodity, you would be correct. But the Trump Tariffs have widespread reach into consumer’s wallets due to the domino effect caused by increased prices on imported raw materials that are required to manufacture components for myriad products resulting in higher costs to consumers. Then there are the tariffs on imported finished goods. The categories of these imported goods are wide and varied, and are not impacting the cost of of a single product (plywood alone as in your example.) Those increases snowball into additional increases down the line until it hits the consumer right where it hurts the most, in their wallets.
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Hey Buddy, I’m just trying to help you understand that tariffs are not inflationary, and in fact are incapable of causing inflation.
But hey, if you want to get all bent out of shape, you can just go piss up a wall.
I couldn’t care less that there’s one more economic illiterate in the World.
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Sorry for my intemperate comment. I was in a bad mood.
I’m not a people person in fact I don’t care for people, that being said the CEO of the company I worked for sat with me while I was having lunch. He’s Harvard educated and he started the conversation about tariffs, we both agreed tariffs are not good for business. I own a small business and the components I get from China, I’m passing them on to those who buy my product.
The point of the tariff is to get you to stop buying from them so your customers don’t stop buying from you. In turn, the country would come to the bargaining table to get the tariff removed. Sure if you have cornered the market on something, go right ahead. But I would be looking for non-Chinese goods to use in my product rather that take the easy road and jack up prices. Your customers will be looking elsewhere soon, I imagine.
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As a free market believer I agree that taxes and tariffs should be as low as possible. They represent a parasitic drain on the Productive Sector and distort the optimal allocation of resources.
The only exception is in the case of strategic necessity (so it might be necessary to protect the US steel industry because if it perishes we cannot wage war), but this still has deleterious effects.
How to reconcile the national debt growth with ongoing spending well above federal tax revenues?
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Irrelevant.
Well, the interest payment on that debt will be over 1T per year by 2026 so weird you think that is irrelevant given that is where almost 15% of your taxes are being spent and will continue to grow as long as we ignore the problem.
I think we need to get our spending in line with revenue.
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The question being debated is whether tariffs are inflationary.
Do try to focus.
Recently ordered $99 gift item including shipping from a German company. Four days before UPS delivery, got a $56 bill from UPS if I wanted the item to be delivered! Of course, since a gift, paid via credit card and consequently received the item. I understand this is now a common TARIFF practice with UPS, Fed Ex shipping companies and are “tossing many backed up non-delivered items when fee not paid. This is terrible!!! BEWARE ordering non-USA products!
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Inflation is a SUSTAINED and SYSTEMIC increasing trajectory of higher prices in EVERYTHING.
The US suffered this under Jimmy Carter and Joe Biden (and Nixon/Ford) and the UK famously under the Labour governments of the 1970’s, before the monetarist Thatcher/Lawson administration eliminated it.
Tariffs cannot cause inflation any more than repealing tariffs can eliminate inflation.
It is purely a monetary phenomenon.