Economists, researchers and analysts have warned that President Donald Trump’s sweeping trade policy of tacking steep tariffs on most goods that come in to America will deliver a taxing blow to consumers via higher prices.

The president uses levies to cajole nations on political priorities, including many unrelated to trade.

Broad investor optimism and a one-month delay in US import tariffs are keeping gold prices around $3,300 an ounce. Although shifting investor sentiment could continue to weigh on gold, Metals Focus expects prices to remain well supported through the rest of the year,

“Businesses have been eating up the higher prices that it takes to import these products, but of course, businesses cannot do that forever, and they certainly won’t be able to do that if tariffs go up any higher,” South Dakota State University economics professor Evert Van der Sluis said.

The pause on the biggest of Trump's tariffs won't pass this week, as planned, but the problems they present still loom large.

The latest on President Trump's tariffs on America's trading partners, the effects on the U.S. economy and how other nations are responding.

People are less worried that President Donald Trump's tariff campaign will push up prices, though American consumers remain pessimistic by historical standards.

Tracking Every Trump Tariff and Its Economic Effect Updated: July 8, 2025 | Published: March 21, 2025.

One of President Trump's economic advisors said tariffs aren't going away, but deadlines could be extended for countries making an effort to negotiate.

U.S. President Donald Trump said on Thursday the United States would impose a 35% tariff on imports from Canada next month and planned to impose blanket tariffs of 15% or 20% on most other trade partners.