While Donald Trump's wide-ranging taxes on imports face scrutiny in court, he has touted a new "deal" with China that will see tariffs against the country remain at historic levels. Here's what it will mean for you.

Therefore, this calculation must subtract the U.S. content of goods ... Barbiero, Omar, and Hillary Stein. 2025. “The Impact of Tariffs on Inflation.” FRB Boston, Current Policy Perspectives 25-2, February 6. Hale, Galina, and Bart Hobijn.

Social Security's 2026 cost-of-living adjustment may be 2.5%, a new estimate shows. That could change if tariffs push up inflation.

Consumer spending slowed despite rising incomes, potentially an early reaction to higher prices on some imported goods.

We'll dig into the confusion around these calculations below ... consumers might want to stock up on certain items before tariff inflation hits. "It's not a bad idea to go to the local Walmart ...

The research group expects the Fed to remain on hold this year, as the economy is hamstrung by uncertainty over whipsawing U.S. trade policy, according to the OECD.

Consumers showed signs of weakness last month as retail sales slowed, indicating shoppers may be pulling back as they await possible fallout from tariffs. The trend poses a risk for the wider economy, since consumer spending accounts for roughly two-thirds of economic activity.

President Trump’s tariffs will take a major bite out of U.S. deficit levels, reducing them by $2.5 trillion over the next decade and shrinking the size of the U.S. economy, the Congressional