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

Multiple White House officials identified the reason that President Donald Trump's tariffs are not showing up in the inflation data: the producers of goods in their countries of origin are eating the cost.

On the foreign policy front, Trump said he will send more weapons to Ukraine after the Pentagon paused deliveries of the critically-needed supplies last week. Overnight, Russia launched what Ukrainian officials said was the largest aerial assault since the start of the war.

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 and his aides have repeatedly shifted their stance on tariffs in the weeks since the president’s “Liberation Day” announcement.

The trade war chaos that engulfed the early months of President Donald Trump’s second term looked set to return Monday as he threatened two major U.S. trading partners with higher duties ahead of a key negotiating deadline.