Trump took office in January, so I'm guessing this has nothing to do with tariffs like people are implying? I didn't read the article (paywall), but if that is

Trump took office in January, so I'm guessing this has nothing to do with tariffs like people are implying? I didn't read the article (paywall), but if that is the case why was this misreported? couldn't he have just blamed biden or something? Either way, that sounds like a big number, is it interest rates that are causing this?