A year later, two charts show how Liberation Day inflation panic actually panned out

"Tariffs have had an effect on the industry. We like to have wines from a variety of places because it's very location-dependent. When you have less access to those things because they're more expensive, it limits our ability to have a variety of products."

"The tariff back-and-forth has spooked everyone from CEOs to shoppers, though it's had a tempered effect on inflation rates. The average effective tariff rate has evolved since Liberation Day, reaching 11% in August."

A year after Liberation Day, US trade policy has seen significant shifts, particularly with tariffs imposed by President Trump. Retailers raised prices to offset these tariffs, affecting consumers. Although some tariffs have been rolled back, a new 10% global tariff was announced. Despite fears of inflation, the actual impact on prices has been mild, with core goods remaining stable. Businesses and consumers continue to face uncertainty regarding future financial conditions, as tariffs have influenced industry access to diverse products.

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