Let’s just do some basic math. If ~25% of CPI is impacted by imports. And if the average tariff rate has gone up 15% in the U.S. since last year. And if Americans are paying 90% of the increase, while foreigners are paying 10%. Then. 15% x 90% =13.5% 25 + 13.5% =28.37 $25 of 2024 CPI becomes $28 in 2025. And if the other $75 grows at the typical 3%, that gets you to $77. 77 + 28 = $105. That’s already 5% annual inflation right there. There’s just no way around this simple math. Prove me wrong if you can.