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Fed: Mind the Gap - Announced Versus Implied Tariff Rates in Recent Trade Policy Episodes
April 10, 2026
WASHINGTON, April 10 -- The Federal Reserve issued the following Fed Notes article:

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Mind the Gap: Announced versus Implied Tariff Rates in Recent Trade Policy Episodes

Sydney Eck, Trang Hoang, Carter Mix, and Madeleine Ray

On April 9, 2026, three references to "imports for consumption" were corrected to "imports."

Introduction

In the past year, the U.S. has raised its tariffs on trading partne . . .

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