To be sure, it may be a while before consumers see tangible relief. The $175 billion in revenue from the IEEPA tariffs is sitting in the Treasury, and per federal regulations, is accruing interest that must ultimately be paid by U.S. taxpayers, according to a report published on Monday by the Cato Institute. A Cato economist calculated interest would come out to about $700 million per month across nearly 130 million taxpaying households. Moreover, U.S. firms are unlikely to lower prices at the same rate they raised them in the past year.
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New analysis shows that attacks on satellite navigation systems have impacted some 1,100 ships in the Middle East since the US and Israel attacked Iran on February 28.