“Mexico got a 90-day reprieve from a new “reciprocal tariff” schedule while negotiations continue.”

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“Mr. Trump’s tariffs have not been as damaging to the U.S. economy as many economists had feared, largely because the administration delayed and scaled many of them back or offered exemptions for certain imports.”

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“Mr. Trump warned of high tariffs, which European nations negotiated to more moderate ones.”

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“The forecast comes as tariffs on dozens of countries around the world that had been announced, postponed and then finally enacted after months of negotiations and deals began to take effect this week.”

Import Levels Expected to Post Decline in 2025 Due to Tariffs

“Trade policy and tariffs are in flux: There have been plenty of instances where announced tariffs have been postponed, suddenly nixed, or unexpectedly increased or decreased in size. Shipping takes time: Sea cargo shipments can take weeks to more than a month to reach the US from other countries. Domestic supply chains take time, too: Once goods land on US soil, they don’t hit shelves the very next day. In addition to domestic transport times, the imported products (which are not always finished goods but rather parts and materials) have to still go through the manufacturing and production processes before being distributed to sales channels. Inventories were loaded up before tariffs hit: Near the end of last year, businesses frontloaded import orders to prepare for any disruptions that could come from a massive, and short-lived East and Gulf Coast port strike and also to get ahead of potential tariffs. Those stockpiling efforts surged this year as steep — and unexpectedly expansive — tariffs came into view and during periods in which they were postponed or lessened.”

Prices are now starting to rise because of tariffs. Economists say this is just the beginning | CNN Business