The Financial Post reports in its Tuesday edition that TD Bank economists say U.S. inflation is at risk of approaching 4 per cent or more, with consumers already starting to "tap the brakes" on spending. The Post's Serah Louis writes that in comparison, they expect consumer price growth in Canada to stretch to more than 3 per cent this summer. Walid Hejazi, an associate professor of international business at the Rotman School of Management, noted that Canada is only grappling with a trade war with the United States, while the latter has launched a trade war "with everybody," exacerbating the breadth and scale of price growth for American consumers. Yale University's Budget Lab predicted 2025 tariffs will cause U.S. prices to rise 2.3 per cent in the short term, the equivalent to a $3,800 (U.S.) loss per household. The Yale report said clothing and textiles will be disproportionately affected, with apparel prices surging 17 per cent and goods like metals, electrical equipment and rice could see hefty price increases as well. Canadian consumers will not be immune to the pain of higher prices: "When American products become more expensive, Canadian companies raise their prices as well," Prof. Hejazi said.