---
title: Deutsche Bank recently updated their Trump tariff inflation forecasts as shown below:
description: "If the 25% tariffs on Canada/Mexico have a 50% pass-through, PCE inflation would rise 80 bps.\nA 75% pass-through would add 110 bps to PCE inflation.\nThe Fed won't like this.\n\nSource: The Kobeissi Letter"
---

[Syz The Moment](https://blog.syzgroup.com/syz-the-moment)

# [Deutsche Bank recently updated their Trump tariff inflation forecasts as shown below:](https://blog.syzgroup.com/syz-the-moment/deutsche-bank-recently-updated-their-trump-tariff-inflation-forecasts-as-shown-below)

 Written by [Charles-Henry Monchau, CFA, CMT, CAIA](https://blog.syzgroup.com/syz-the-moment/author/charles-henry-monchau) | Jan 23, 2025, 1:48:32 PM

[View full post](https://blog.syzgroup.com/syz-the-moment/deutsche-bank-recently-updated-their-trump-tariff-inflation-forecasts-as-shown-below)

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