There have been plenty of criticisms for President Donald Trump's use of tariffs as foreign policy, the most frequent of which is an expectation of resulting out-of-control inflation.
Inflation, though, has been minimal, with most economists saying it takes months for the tariffs that started in February or March to ripple through the economy, and in the meantime the tariffs have helped money come rushing into the United States over the past few months.
The Center for a Prosperous America's Kenneth Rapoza says there will likely be a noted rise in inflation when the tabulations are released in early September, but he's doesn't expect much.
"Probably 3.3% or 3.5% in August and September and that will be the base case scenario that future inflation," if any, will be based upon, he says.
With the baseline of inflation set, then the Trump administration will have to let the "experiment" they're running with tariffs continue, or do a reassessment.
"Trump will have to revisit and rejigger the intellectual arguments for tariffs, which would be protection of key industries and raising revenue, so our taxes can be lower."
A glance at the effects of the tariffs brings good news for US revenues.
"The revenue side has been successful for the Trump administration, I think, but the protection side has only been successful for steel, aluminum and copper," Rapoza says.