"…The back and forth has caused sharp swings in global markets and threatens to hamper trade between the two countries."

"…Economists warn that such heightened levies could significantly squeeze the wallets of both companies and shoppers alike."

"…However, the more damaging element of it is the uncertainty created."

"…The domestic steel industry has voiced support for the increased tariffs, saying they will help it weather increased competition from foreign steel manufacturers."

"…Businesses and consumers have been on edge since the beginning of the year, but the latest surveys show that Trump’s policies are clearly reverberating throughout the economy, affecting inflation, hiring and many companies’ finances — all while consumers try to figure out whether to spend now or wait until later."

"…Forecasters say tariffs will likely raise prices for both rich families and poor families, although the CBO is still sorting out which end of the income ladder would be hit hardest."

"…However, the report from the Congressional Budget Office also noted that tariffs would slightly reduce economic output in the United States by 0.6% over the next 10 years, and contribute to a moderate 0.4% increase in inflation over the next year because the cost of consumer goods is expected to rise as a result of tariff policy."

"…The trade gap fell by more than half in April as imports plunged, the data showed."

"…The analysis found that shrinking of the U.S. economy would vary but said that tariffs would reduce gross domestic product growth by .06% each year."

"…The CBO's estimations show that the tradeoff for a $2.8 trillion deficit reduction over 10 years would be an overall reduction in household wealth."

"…President Trump's move to double steel and aluminum tariffs will have a negative impact on housing affordability by further disrupting building material supply chains and fueling business uncertainty."

"…The budget office estimates that the tariffs would increase the average annual rate of inflation by 0.4 percentage points in 2025 and 2026."

"…Tariffs aren't the only reason we'll see appliance price hikes."

"…Numerous companies have already hiked prices or said that they will be hiked in the near future."

"…Goods brought into the US plunged by 20% in April, recording their largest ever monthly drop in the face of a wave of tariffs unleashed by US President Donald Trump."

"…The budget office estimates that the tariffs would increase the average annual rate of inflation by 0.4 percentage points in 2025 and 2026."

"…The outlook remains slightly pessimistic and uncertain, unchanged relative to the previous report."

"…The latest report showed just three did, while half reported economic declines."

"…The outlook remains slightly pessimistic and uncertain, unchanged relative to the previous report."

"…Largely confirming what other economic models have predicted, the CBO's estimations show that the tradeoff for a $2.8 trillion deficit reduction over 10 years would be an overall reduction in household wealth."

"…Largely confirming what other economic models have predicted, the CBO's estimations show that the tradeoff for a $2.8 trillion deficit reduction over 10 years would be an overall reduction in household wealth."

"…Largely confirming what other economic models have predicted, the CBO's estimations show that the tradeoff for a $2.8 trillion deficit reduction over 10 years would be an overall reduction in household wealth."

"…The CBO report contradicts many standard anti-tariff arguments."

"…President Donald Trump’s tariffs would cut federal deficits by $2.8 trillion over the next decade, according to a new analysis by the Congressional Budget Office."

"…The additional tariffs on Canadian steel and aluminum announced today by the United States are unlawful and unjustified."