Here’s how Trump’s prices start to cost Americans

Little by little, the costs of the prices of American president Donald Trump are beginning to show for American companies and consumers.

The news of the pricing impact rises, of the three car manufacturers of Detroit announcing that they will face additional costs this year totaling the billions, to the manufacturer of stainless steel kitchen utensils in Tennessee Hit with a price bill of $ 75,000 (United States) on an expedition, to the cafes, considering increasing the price of a cup because of Prices on the Brazil.

Until recently, companies have somewhat protected American consumers from the full prices, either by precipitating supplies in the country before Trump’s deadlines, or by absorbing levies as a cost of making business.

But with prices on imports from around 100 American business partners due to the increase in this week compared to their current reference by 10%, the costs linked to the prices are directed anywhere.

Alex Durante, principal economist of tax Foundation, a group of policies and advocacy based in Washington, says that the prices reach a wide range of American companies based on imports.

“I think that the administration will have a lot of trouble convincing the American people that some of the price increases they see are due to other factors that are not linked to the prices,” said Durant in an interview with CBC News.

“I don’t think most people are going to be due by this,” he said.

Look | Carney’s Point Man on prices take Canada’s message on American television:

Canadian officials convincing the American trade agreement will be concluded

Prime Minister Mark Carney and Dominic Leblanc, the Minister responsible for the Canada-US Trade, have expressed their confidence that a new trade agreement will be concluded with the United States, even after 35% of the prices were imposed at the end of last week.

Trump, cabinet denies the rates that cost Americans

While at the macro level, the US economy is generally very good despite Trump’s tactics, there are new data suggesting that prices act as a brake, in particular:

Trump and his members of the cabinet quickly burst all the evidence that the prices cost to the Americans, the president even pulling the head of the Federal Statistics Agency which produces the employment report of the country.

“We have a lot of money to come, much more money than the country has never seen, by hundreds of billions of dollars,” said Trump on Sunday when a journalist asked questions about prices.

The US trade representative, Jamieson Greer, denied that Trump’s pricing policies are a factor in the fall in jobs.

“I do not read the price policy in this number,” said Greer on the CBS program Face the nation Sunday.

But if you are ready to look around, you can find many examples of American companies by feeling the pinch.

The Reuters news agency compiles examples of how large companies around the world react to Trump prices, such as hiking and issuing profits.

Retailers, major brands increasing prices

The Reuters Tracker currently shows 22 American companies increasing prices, including retail giants (Walmart, Best Buy), shoe brands (Nike, Crocs, Birkenstock) and large manufacturers of household items (Colgate-Palmolive, Procter & Gamble, Clorox).

It is difficult to imagine that many American consumers have not bought these companies this year.

Other large American companies in recent days have reported pricing impacts.

• The Apple technology giant says that it faced $ 800 million in prices in the last quarter in the last quarter and expects that it will reach $ 1.1 billion this quarter.
• Berkshire Hathaway of Warren Buffett partially blame a quarterly decrease of 5.1% of income in his division of consumer goods, which includes brands like Fruit of the Loom and
• Stanley Black & Decker tool manufacturer estimates that its price costs will reach $ 800 million this year.

These corporate figures do not affect another trend emerging in the American economy: the slowdown in visits to international travelers, radically from Canada.

It may not be exactly linked to prices, but Trump slamming other trade nations by describing them as unpleasant, unjust and tearing the United States is not exactly what you would call a warm and welcoming tourist advertising campaign.

Look | This economist says Canada has a better deal on Trump’s prices than other countries:

Economist Robert Embree on the impact of American prices on the Canadian economy

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Higher prices could have an impact on public opinion

Although some surveys suggest that more Americans disapprove of the prices than to approve, the question does not seem to be a crucial source of public damage to Trump and the Republicans – at least not yet.

This could change if companies on companies accumulate so much that consumers cannot help seeing the impact.

“We know by the last presidential election that voters really did not like to see higher prices,” said Durante.

He sees problems to come, that companies all transmit, some or none of the additional rate costs for consumers.

“If they absorb price increases, it is less money that they could use to invest in their own business and their jobs and more in -depth production,” said Durante.

“So, even if we do not see the prices fully impacting the consumer final prices, these are still quite harmful effects.”