timelets

Imports from China have been keeping US inflation low. The current trade tariffs are especially bad because of the rising inflation in a booming economy.

https://fred.stlouisfed.org/graph/?g=kSi6

It's hard to find an economist more conservative than Robert J. Barro. For the record, here's his reaction to the tariffs:

To return to my musings about whether I support Mr. Trump, I recall a long ago assessment I made of President Nixon: He didn’t deserve to be impeached for Watergate but did deserve to be impeached for price controls. Similarly, Mr. Trump doesn’t deserve to be impeached for his myriad instances of political incorrectness, but he may deserve to be impeached for his trade war.

https://www.wsj.com/articles/i-wont-ride-the-trump-train-into-a-trade-war-1533767988