The cost of many everyday items would have declined last year and early this year without President Donald Trump 's tariffs, according to the New York Federal Reserve . The cost of 67 categories of goods were 2.9 percentage points higher as of February thanks to tariffs, according to a paper from a team of researchers at the central bank's New York arm. Without the levies, the team found that prices for the products they studied would have pulled back by almost 1%. The New York Fed's report offers the clearest evidence yet of the impact of Trump's tariffs — a core policy of his reelection campaign and second term in the White House — on consumers' wallets.
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