I've found it interesting to read a little bit about the First Sale Rule regarding tariffs. If I understand, the rule allows for expensing the tariffs at the manufacturing wholesale levels. In other words WAY before the retail customers would see them. I bet you the profit margins around the world of those who wholesale out raw materials to wholesalers is huge, and they are the ones eating most of the tariff. That is why we haven't seen huge price increases. And inflation has nothing to do with tariffs. Inflation is an increase in the money supply which causes the entire economic ocean to rise making everything cost more. Tariffs are money circulating already. It just happens to be coming here. So, check out the First Sale Rule and tell me if my thoughts are out there in left field...