U.S. import prices rise, businesses and consumers may bear the tariff costs.

[Coin World] Economists Sarah House and Nicole Cervi from Wells Fargo pointed out in a report that the rise in U.S. import prices indicates that foreign exporters have not absorbed the higher tariff costs. Data released on Thursday showed that non-fuel import prices rose by 1.2% year-on-year in June. They emphasized that the import price data does not include tariffs, so if exporters are absorbing the higher tariff costs imposed by Trump on goods, then import prices should have fallen accordingly. They warned: "Since import prices have not fallen, domestic companies are being forced to bear higher tariff costs and are starting to pass them on to consumers."