Fitch: US tariff rates back to 1909 levels, Fed may be more cautious about cutting rates

Given higher-than-expected tariffs, US economic growth in 2025 is likely to be lower than the 1.7% forecast in March, higher tariffs will lead to higher prices for US consumers and lower profits for companies, Emancipation Day has brought US tariff rates back to 1909 levels, and upward pressure on commodity prices from tariffs means the Fed may become more cautious about further rate cuts in the near future. becoming more cautious about further rate cuts in the near future. With the increase in United States tariffs, there could be downward pressure on the ratings of some sovereigns with high levels of export value added.