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There's 'overwhelming evidence' tariffs have raised consumer prices, says Bank of America (www.businessinsider.com)

submitted 1 day ago by MicroWave@lemmy.world to c/economics@lemmy.world

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Analysts at the Bank of America said tariffs have raised prices for consumers.

They wrote in a note that consumers have covered about 50% to 70% of the cost of levies to date.

This suggests tariffs will continue to put "upward pressure" on inflation, they said.

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[–] Tollana1234567@lemmy.today 2 points 23 hours ago (1 children)

i assume you cant sell it to EU customers?

[–] nucleative@lemmy.world 4 points 21 hours ago

Yes we can. That side of the business is growing.

I think a lot of other e-commerce businesses have also shifted away from the US market as well. So US buyers have fewer choices now.

I've searched quite a lot and cannot find factories in the US for the kind of goods we sell. I'm sure we could pay somebody considerably more who would do it but then we would have no customers.