Hormuz closure offsets tariff reversal; U.S. left with upside inflation risk

Tryg Aanenson and Ricardo Reyes-Heroles

Dallas Fed Economics from Federal Reserve Bank of Dallas

Abstract: A pair of important and opposing trade shocks hit the U.S. economy during the first quarter of 2026. The U.S. Supreme Court struck down a portion of the tariffs imposed under the International Emergency Economic Powers Act (IEEPA). The decision on Feb. 20 lowered average U.S. import tariffs by roughly 4.8 percentage points.

Keywords: energy; global; international economics; trade; tariffs; Hormuz; oil (search for similar items in EconPapers)
Date: 2026-06-02
References: Add references at CitEc
Citations:

Downloads: (external link)
https://www.dallasfed.org/research/economics/2026/0602 Full text (text/html)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:fip:d00001:103383

Access Statistics for this paper

More papers in Dallas Fed Economics from Federal Reserve Bank of Dallas Contact information at EDIRC.
Bibliographic data for series maintained by Amy Chapman ().