Trump’s threatened tariffs on Canada and Mexico may boost inflation in the U.S., but there’s still “huge uncertainty” around macroeconomic forecasts, according to Deutsche Bank Research.

The tariffs President-elect Donald Trump has threatened to impose on imports from Mexico and Canada would significantly increase U.S. inflation next year and modestly curtail economic growth, economists and trade experts say. Monday, Trump vowed to slap ...

Members of Trump’s transition team have pushed back against the idea that tariffs would spark widespread inflation. Even if some prices rise, those increases would be offset by lower demand elsewhere, Treasury Secretary pick Scott Bessent said in a recent radio interview.