WASHINGTON — Lower-than-expected U.S. inflation readings for May suggest that President Donald Trump’s tariffs have yet to really hit American consumers, with domestic and foreign companies initially bearing the costs.
The U.S. began raising tariffs in February, starting with imports from China. Additional duties on steel were imposed in March. April brought levies on autos and sweeping, since-paused “reciprocal” tariffs on goods from dozens of countries.
