(LEX 18) — Senator Rand Paul is warning that consumers may soon feel the delayed impact of tariffs as businesses can no longer absorb the additional costs.
Some shoppers may have already noticed stores raising prices or removing physical price tags altogether. Paul says this represents the beginning of tariff impacts that businesses have been able to delay until now.
"If you put a tariff on a TV from South Korea or China, those TVs will cost more and the prices will go up," Paul said.
The Kentucky senator has been vocal in his opposition to President Donald Trump's tariff policies, calling them a "tax" that forces businesses to raise prices to compensate.
"It's not really the fault of the business that the prices are going up, it's the fault of the tariffs," Paul said.
While some tariffs have been in place for months, Paul explains that businesses have been able to maintain lower prices temporarily. However, he believes this approach is unsustainable long-term.
"My prediction is yes, the price rises are coming. I think we're starting to feel them now and we're going to feel them worse over the next several months," Paul said.
