The Council of Economic Advisers, chaired by Stephen Miran, said in a report this month that, using an analysis of a price index used to track inflation, it has contradicted the idea that

Instead on Wednesday, Trump continued to threaten countries with higher tariffs in the near future by publishing open letters to the Philippines, Brunei, Moldova, Algeria, Iraq, Libya and Sri Lanka that set new tariff rates ranging from 20% to 30% that he said he would impose on Aug. 1.

President Donald Trump has sent out tariff letters to seven smaller U.S. trading partners in his first batch of import tax announcements of the day.

President Donald Trump’s tariffs have already driven up some prices, but they have not yet produced the overall inflation that many economists feared.

Live updates and the latest news as the Trump administration is expected to announce new trade actions and Pete Hegseth and Benjamin Netanyahu meet

In his new round of tariffs being announced this week, Trump is essentially tethering the entire world economy to his instinctual belief that import taxes will deliver factory jobs and stronger growth in the U.S., rather than the inflation and slowdown predicted by many economists.

Trump’s comments come after Monday's press briefing, where White House Press Secretary Karoline Leavitt was asked to walk through the decision to halt weapons to Ukraine. Leavitt stated it was the result of a standard review by the Pentagon of all weapons and aid to all countries that the U.S. supports.