U.S. June Import Prices 0.4% Drop Is Largest Since Feb. 2016

The video discusses the current state of import prices and trade issues, highlighting that the data is backward-looking and may not reflect recent trade tensions. It explains how tariffs will impact the economy before appearing in the CPI. Current trends show a decrease in prices for capital goods and autos, with minimal change in Chinese imports. Future economic data will likely be outdated, delaying the visible impact of new tariffs.

What is the expected timeline for the impact of new tariffs on Chinese imports to be reflected in economic data?

Why is the current economic data considered backward looking?