
07/11/2025
White House Report: Import Prices Dropped From March Through May 0.58 Percent As August Tariff Deadline Approaches https://dailytorch.com/2025/07/white-house-report-import-prices-dropped-from-march-through-may-0-58-percent-as-august-tariff-deadline-approaches/
“Are the prices just not passed through yet? No, I think what's happening is everything's evening out. You know, when we charge, see what people don't understand the other countries have been charging almost — every country charges us tariffs. We had deficits with everybody for years for… decades. And we were like this big monolith that made bad deals with everybody.” That was President Donald Trump’s reaction at a July 8 Cabinet meeting at the White House to a question inquiring about a Council of Economic Advisors report showing that the price of imported goods has been in outright decline throughout 2025. Citing data from the Department of Commerce and the Bureau of Economic Analysis, the Council — a think tank inside the White House — found that the Personal Consumption Expenditure (PCE) Price index for imported goods dropped 0.11 percent from January through May, and the Consumer Price Index for imported goods dropped 0.76 percent. Focusing on March through May, the PCE Price Index for imported goods dropped 0.58 percent and the CPI dropped 1.04 percent. This was in the run-up and initial to President Trump’s reciprocal tariffs that began in April, but also the first rounds of tariffs announced against top trade partners Canada, Mexico and China in February. Throughout the process, critics of the President’s trade policies, including Democrats in Congress and a couple of Republicans, have insisted—without evidence—that prices would increase. They still haven’t, whether in anticipation of the February or April announcements, or in response to them. What do you think?
By Robert Romano “Are the prices just not passed through yet? No, I think what’s happening is everything’s evening out. You know, when we charge, see what people don’t understand the other countries have been charging almost — every country charges us tariffs. We had deficits with [...]