Should the president hold fast to his tougher-than-expected trade policy, there's a material risk of at least near-term costs.

US Fed Chair Jerome Powell says the Trump administration’s expansive new tariffs will likely lead to higher inflation and slower growth.

Stocks suffered their worst crisis since COVID in March 2020, as the Dow Jones plunged more than 2,200 points on Friday, over concerns about the fallout from President Trump’s tariffs. The NASDAQ and S&P lost nearly 6 percent.