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.

US wholesale inflation remained unchanged in June, contrary to concerns that President Trump's tariffs might increase goods prices. The Labor Department's report revealed a 2.3% year-over-year rise. This comes amid ongoing discussions on the impact of tariffs and the Federal Reserve's cautious stance on interest rates.