Prices of clothing and shoes are expected to be particularly impacted by the tariffs, Yale University’s Budget Lab found.

The June CPI report shows that inflation is accelerating, but at a pace that's in line with economists' expectations. The latest Consumer Price Index (CPI) report indicated a slight impact on inflation from President Donald Trump's tariff policies, although the acceleration was in line with what economists expected.

Uncertainty surrounding U.S. trade tariff policies are keeping investors cautious, whilst Tesla (NASDAQ: TSLA)

Stocks closed down significantly on Monday after President Donald Trump announced steep tariffs on Japan, South Korea and other nations, set to take effect on Aug. 1.

Stocks slip as Trump confirms August tariffs on Japan, S. Korea. Goldman sees gradual hit while Fed rate cut hopes offer support. US stocks analysis today.

Those new duties were later suspended for 90 days, though tariffs on some products remain in place. Higher tariffs most directly affect trade in goods and the factories that make them.

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Investors are digesting Trump's stiff tariffs on imports from more than a dozen countries and delayed the return of sweeping April levies.

Chemicals firm Dow Inc said on Thursday that it expects extended pressure on earnings as uncertainty from U.S. President Donald Trump's erratic trade policies adds to macroeconomic volatility.

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