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

Consumer prices posted the biggest increase in June in five months and are likely to keep the Federal Reserve from cutting interest rates soon, but there only scattered signs of tariff-related inflation.

Markets aren’t acting like this is a reality, however. Benchmark 2-year U.S. Treasury note yields rose just two basis points following the inflation release, to 3.946%, and 10-year paper is holding at 4.475%. Stocks are also trading at the highest levels on record.

June’s inflation report will be looked at not so much for what the headline numbers show than what’s in the underlying data.

The economy and the markets are "under surveillance" as we cover the latest in finance, economics and investment.

The latest round of tariff threats from President Trump could spark fresh concerns about inflation, which might force the Federal Reserve to maintain its wait-and-see posture on interest-rate cuts, sa

Peter Boockvar, Bleakley Financial Group chief investment officer, CNBC Contributor, joins 'Fast Money' to talk the impact of the latest round of tariff threats, hit top plays in this market, and more.