The president said his advisers would devise new tariff levels reflecting countriesβ tariffs, taxes, subsidies and other policies affecting trade with the United States.
Jerome H. Powell is set to testify as inflation risks are resurfacing, regulatory changes are in flux and the Federal Reserveβs policy independence is in the spotlight.
President Trump has insisted that his new tariffs on Americaβs largest trading partners will not increase prices for Americans. But a review of how they work suggests that is not the case.
General Motors and a few other companies make as much as 40 percent of their North American cars and trucks in Canada and Mexico, leaving them vulnerable to tariffs.
China chose swift retaliation for trade measures in the first Trump administration, but that led to an upward spiral of trade measures and much broader tariffs.
A poll from The New York Times and Ipsos found that Americans believe abortion, L.G.B.T.Q. issues and climate change concern Democrats more than the cost of living.