On Tuesday, it was reported that Chinese shipments of Apple's iPhone and mobile devices to the US fell to their lowest since 2011 in April. The sharp drop highlights how US tariff

Home Depot said Tuesday that it doesn't plan to raise prices because of tariffs, defying a broader trend in the retail industry.

Global retailers including sandal maker Birkenstock and jeweller Pandora are looking at spreading the cost of U.S. tariffs by raising prices across markets to avoid big hikes in the United States that could hurt sales.

President Trump said his administration "will be sending letters out" in two to three weeks to alert other nations of the tariff rates the U.S. will impose.

Reports in the coming week may give the fullest reading to date of how major economies are faring with trade disruptions, halfway through President Donald Trump’s 90-day hiatus on so-called reciprocal tariffs.

Trump increased tariffs on most Chinese goods to a whopping 145%, but that rate dropped to 30% on Monday as part of a 90-day truce with China. But Trump said the tariffs could become “substantially higher” if a trade agreement with China is not reached.

The US also faces increasing economic pressures. Major retailers like Walmart and Target project price increases of 5 to 10 percent by midyear, with the National Retail Federation estimating $78 billion more in annual costs to US consumers.

The Bureau of Labor Statistics' latest consumer price index report showed that inflation ticked slightly higher in April as tariffs begin to have an economic impact.

A University of Tennessee professor said some prices will raise faster than others after Walmart officials said customers can expect higher prices moving into June.

The central bank is expected to hold steady on rates, keeping them at a range of 4.25% to 4.5%. What Fed Chair Jerome Powell says at his presser will be key.