The media has had the hysteria dial turned to max for two years now just because Trump is President. Steel and aluminum tariff's hit a year ago and we saw articles similar to this speculating on how bad it COULD be. The Department of Labor said last Friday that its consumer price index was up just 2.0 percent compared with a year ago, indicating that prices are not rising particularly quickly.
We also have to remember that the effects of a tariff isnt immediate. Some may take months maybe a year. Depends on the item of note. Especially when you consider some businesses absorbing the initial increase in price so customers dont go someplace else. Steel and aluminum werent a Chinese majority export. Canada and Mexico were. A somewhat decrease in the tariff effect was met between these countries so the effect wasnt as large. Farmers are hit by the export tariff however.