President Donald Trump has again delayed a tariff deadline. His back and forth on the policy spurred TACO accusations. What does it mean?

President Donald Trump is threatening to impose 50% tariffs on Brazilian imports — a move that could spike prices of breakfast staples like coffee and orange juice.

The United States has a trade deficit with Iraq, Algeria, Libya and Tunisia, according to the US government, prompting the president to send them letters warning of new tariffs.

The new tariffs [threatened in letters](

St. Louis Fed president Alberto Musalem said Thursday he is undecided about whether tariff inflation will be a one-time increase or longer lasting, underscoring the uncertainty about what direction the central bank will move in the coming months.

Global stocks advanced on Thursday, underpinned by optimism around artificial intelligence and the prospect of upcoming interest rate cuts, while investors kept a cautious eye on U.S. President Donald Trump's tariff actions and their impact on global trade.

The Fed’s median target rate is still well above the annual pace of consumer inflation. The odds are low that Fed will cut rates at the upcoming July 30 policy announcement. Read more here.

Carl Weinberg, chief economist at High Frequency Economics discusses President Trump's imposition of the biggest tax increase in the history of the U.S., and what this will mean for the country's economy.