So why haven’t tariffs slowed US growth? Was the doom and gloom just a façade?
Tariffs have dominated headlines in 2025, yet their economic impact has, so far, been surprisingly limited. Speaking at a media roundtable at Eastspring Investment’s mid-year outlook, the firm’s chief economist, Ray Farris, along with the firm’s chief investment officer, Vis Nayar, flashed a chart seeming to suggest that US import prices have not really moved much from their 2024 levels.
A later chart showed that initial jobless claims in the US have remained largely stable since falling from their 2020 pandemic highs.
