The average effective tariff rate has been around 16%, Morgan Stanley Wealth Management calculates, 5 times higher than the past average of 3%.

Lifted a ban on sales of powerful computer chips to China, potentially helping the US’s top rival close the gap in the AI race. Told GOP lawmakers he would soon fire Federal Reserve Chair Jerome Powell — only to reverse himself when markets tumbled.

Former Treasury Secretary Lawrence Summers warned that President Donald Trump’s bid to assert control over the Federal Reserve and drive down interest rates could trigger a surge in inflation expectations that pushes up long-term borrowing costs.

Indonesia also has agreed to purchase billions in U.S. energy, agriculture products and airplanes, Trump said July 15 in a social media post.

President Donald Trump swept into office in January with a promise to tackle what he called the "inflation crisis" that had kicked off under his predecessor. "I will direct all members of my cabinet to marshal the vast powers at their disposal to defeat what was record inflation and rapidly bring down costs and prices,

Elizabeth Warren introduces a price gouging bill to target big companies that use market shocks including a trade war to push through excessive price increases.

On "What's Moving Your Money with Spencer Hakimian," Spencer discusses the latest June CPI report showing a continued trend of upwards inflation—and warns that President Trump's tariffs, which haven't even been fully implemented to their full threatened extent,

The U.S. dollar rose alongside Treasury yields on Wednesday, which in turn kept pressure on the yen after the latest U.S. inflation report showed signs that President Donald Trump's tariffs were beginning to feed into prices.