Lots of confusion again on whether Tariffs cause inflation or notThey do drive up the prices obviouslyBut how come people say no inflation?Because there exists two definitions of inflation:A. immediate rise in price level: absolutely caused by tariffs. Tariffs raise prices. But in the absence of new money, some other consumer expenditure will be sacrificed to cover the tariff costs. Then economic slowdown-down (still bad but not traditional definition of inflation). Then the slow-down actually ends up causing deflation (less econ activity, money supply shrinks)B. a long-term and permanent increase in prices: not caused by tariffs. Only caused by money printing. Supply shocks and tariffs are not inflationary in this sense and are instead deflationary.---Book a free consultation: https://21stCapital.com/nostr---Follow Sina on X: https://x.com/Sina_21st