After two pauses, President Trump has now reinstated his "adjusted" reciprocal tariffs on dozens of America's trading partners.

President Donald Trump calls money from tariffs good news. But collections so far pale in comparison to the government’s deficit.

And it indicates that the fallout from Trump’s tariffs is starting to push up prices for American consumers, even before his most sweeping levies take effect. Inflation remaining stubborn even as the labor market cools will make the central bank’s task more difficult.