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President Trump’s trade policies are adding to inflation, and the Federal Reserve is signaling no immediate relief for savers or borrowers.

President Trump’s 2025 tariff package introduced a 10 percent duty on all imports and targeted increases on goods from China, Mexico, and Canada. These policies have already driven up prices across a wide range of consumer goods. Walmart and other retailers have passed rising costs to customers, with Business Insider reporting more than 30 percent price increases in some categories.