by John Carney
Breitbart.com
Americans are not likely to be hit hard even if the tariffs on Mexico, Canada, and China rise significantly this week.
A new analysis from the Federal Reserve Bank of Atlanta suggests that the consumer price impact of proposed import tariffs may be smaller than commonly assumed, with much of the cost increase tied to North American trade partners rather than China. While tariffs would lead to one-time price increases on certain goods, the study finds that these effects are not the same as sustained inflation.
President Trump and administration officials have said they plan to put in place sweeping new tariffs on Tuesday. The new import duties would apply to around $1.5 trillion of goods. Goods from Mexico would get a 25 tariff trate, as would imports from Canada, except Canadian energy, which would face a 10 percent rate. Tariffs on China are set to rise by an additional 10 percent.