Fresh research and industry warnings suggest President Donald Trump’s latest round of tariffs is already filtering through to consumer prices and business costs only days after taking effect. Goldman Sachs analysts say the upward pressure on inflation is “just getting started,” while the U.S. Chamber of Commerce cautions that tariffs could add roughly $202 billion a year to companies’ import bills, costs that are likely to be passed on to households. Early price estimates underscore the scale of the shock: Yale University’s Budget Lab projects retail prices could jump 37 % for clothing, 39 % for leather shoes and handbags, 12 % for cars, 7 % for fresh produce, and more than 3 % for food staples. Small U.S. firms, which lack the purchasing power to renegotiate contracts or relocate production quickly, report mounting financial strain as they scramble to comply with the new regime. Beyond immediate price effects, economists warn of broader macro-financial repercussions. Bloomberg and other analysts note that the administration’s aggressive trade stance is eroding confidence in the U.S. dollar, accelerating a shift toward a more multipolar currency system and pushing up domestic borrowing costs. While the White House touts the tariffs as a strategic win, business groups and economists argue that the longer-term costs—in slower growth, higher inflation and disrupted supply chains—are likely to outweigh any short-term political gains.