Comerica's Bill Adams said the tariffs Trump announced yesterday could cause deep changes in prices and economic indicators, but inflation indicators for March already show some impact from trade policy. People are rushing to buy cars as consumers try to get ahead of tariffs, which could push up car prices. In terms of producer prices, commodity markets are already reflecting significant increases in tariffs, which could be reflected in higher prices for steel, wood and other building materials. However, the full impact of tariffs "may take several quarters" to show up in the indicators. "March will be just the beginning."