Indonesia also has agreed to purchase billions in U.S. energy, agriculture products and airplanes, Trump said July 15 in a social media post.

New data showing price increases last month could foreshadow even higher costs if the president imposes steep tariffs on Aug. 1.

Gary Cohn, IBM vice chairman and former National Economic Council Director under President Trump, joins 'Squawk Box' to discuss the state of the economy, June's CPI data, President Trump's tariff agenda,

While the inflation numbers aren't "as bad as expected," they suggest that President Donald Trump's import tariffs are "starting to bite," Heather Long, the chief economist at Navy Federal Credit Union, told CNN. "A long stretch when Trump's policies left little imprint on the hard data appears to be ending," said The Wall Street Journal.

President Trump’s tariffs have yet to reverse the disinflation trend that’s persisted since January, baffling economists and the bearish views that color the consensus narrative.

The report on wholesale inflation came a day after the Labor Department reported that consumer prices last month rose 2.7% from June 2024, the biggest year-over-year gain since February, as Trump’s sweeping tariffs pushed up the cost of everything from groceries to appliances.

American companies in China are reporting record-low new investment plans for this year and declining confidence in profits, while uncertainty in U.S.-China relations and President Donald Trump’s

Worsening inflation poses a political challenge for Trump, who as a candidate, promised to immediately lower costs, but instead has engaged in a whipsawed frenzy of tariffs that have jolted businesses and consumers.

Early trading on Wall Street was quietly mixed as markets shift their attention toward a deluge of corporate earnings reports.