A report has emerged stating that U.S. businesses are concerned about rising materials and supplies prices due to President Donald Trump's tariff policy.
The U.S. Federal Reserve (Fed) released its Beige Book on the 15th (local time), stating that businesses are concerned about potential tariff impacts leading to rising materials and supplies prices, and some businesses have proactively raised product prices.
In the report released on this day for March 2025, the Federal Reserve clarified the U.S. economic situation from the perspective of economic participants since mid-January, noting that while overall consumer spending decreased, demand for essentials remained robust.
However, it was analyzed that the price sensitivity of discretionary consumer goods has increased, particularly among low-income groups, and that exceptional weather conditions, such as cold snaps and heavy snowfall in the southern region, have weakened demand in the leisure and hospitality sectors.
Regarding overall U.S. economic activity, it was evaluated that "overall economic activity has seen a slight increase since mid-January." The Beige Book is an economic trend report that collects recent economic trends through banks, corporations, and experts in regions overseen by the 12 Federal Reserve Banks, typically released two weeks before Federal Open Market Committee (FOMC) meetings.