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US CBO: Trump's Tariffs to Shrink US Econ, Intensify Inflation
The US Congressional Budget Office (CBO) assessed the tariff measures implemented by US President Donald Trump through executive orders from 6 January to 13 May. It is expected tha...
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US CBO: Trump's Tariffs to Shrink US Econ, Intensify Inflation
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The US Congressional Budget Office (CBO) assessed the tariff measures implemented by US President Donald Trump through executive orders from 6 January to 13 May. It is expected that the tariff policy will shrink the US economy and intensify inflation, meanwhile reducing the federal deficit by US$2.8 trillion.

The analysis found that the tariffs will lead to a decrease in US GDP growth by 0.06% annually, and the real GDP will be 0.6% lower in a decade than CBO's previous estimation. Inflation will rise by an annual average of 0.4 ppts in 2025 and 2026, thereby reducing the purchasing power of households and businesses.

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