Shortly after President Donald Trump returned to the White House in January, he launched a tariff war against China, as part of a broader implementation of import taxes on goods from several dozen countries as Trump seeks to reset the foundations of global trade.

The twists and turns in U.S. President Donald Trump's tariff policies have not only rattled global financial markets but have also taken investors on a roller-coaster ride. Companies are counting the cost of the trade war that is now being estimated at more than $34 billion in lost sales and higher expenses,

U.S. Treasury Secretary Scott Bessent on Wednesday said the Trump administration is prepared to "roll the date forward" with trading partners negotiating in good faith if the deadline marking the end of the 90-day pause on President Donald Trump's reciprocal tariffs is reached with no deal.

The treasury secretary's remarks indicate that the Trump administration might be more inclined to shift the self-imposed deadline as it gets closer.

U.S. Treasury Secretary Scott Bessent hinted Wednesday that President Donald Trump's temporary pause on "reciprocal" tariffs could be extended for those engaging in trade negotiations with the United States "in good faith.

Inflation rose less than expected in May, a month when the effects of higher tariffs were starting to become more widespread.

Inflation was tame in May, defying fears that the impact of President Trump’s tariffs would start to show a rise in prices. Consumer prices rose 0.1% in May over the previous month, less than economists anticipated.

Prices for toys, car parts and major appliances jumped in the US last month, but the overall impact of Donald Trump's new tariffs on consumers remained relatively muted. Inflation, the pace of price increases,

US consumer inflation ticked up in May, in line with analyst expectations, government data showed Wednesday as President Donald Trump's sweeping tariffs began to ripple through the world's biggest economy.