Tariffs are adding a new layer of uncertainty to everyday prices. What happens next will hinge on policy choices, how companies react and how shoppers respond.

Matthew Higgins, a business economist at Tulane University’s A. B. Freeman School of Business, can discuss how those costs move from ports to consumers—and what that means for the broader economy.

Why this matters now:

Americans are spending a lot more on trips at home, but overseas visitors are pulling back. Recent data show U.S. travel spending up ~0.2% in July while international arrivals are down about 8% this year, with 2025 inbound spending projected to fall by roughly $12.5 billion. Factors include visa costs and processing hurdles, plus geopolitical tensions. The result: strength in domestic leisure, but softer demand in gateway cities that rely on international spending.