Luke Vargas

Well, one place many American consumers could soon feel the pinch of tariffs is on the bargain app Xi'an. The Chinese fashion giant is facing a double whammy, with President Trump putting an end to duty-free shipping for Chinese goods under $800 from next month, threatening the brand's ultra-low prices that make it so popular with shoppers in the U.S.

Well, one place many American consumers could soon feel the pinch of tariffs is on the bargain app Xi'an. The Chinese fashion giant is facing a double whammy, with President Trump putting an end to duty-free shipping for Chinese goods under $800 from next month, threatening the brand's ultra-low prices that make it so popular with shoppers in the U.S.

Journal reporter Raphael Huang in Singapore says the tariff impact is forcing a rethink of how Xi and Chinese rivals like Temu do business.

Journal reporter Raphael Huang in Singapore says the tariff impact is forcing a rethink of how Xi and Chinese rivals like Temu do business.

And in other markets news today, Goldman Sachs this morning will kick off a busy earnings week with the likes of Bank of America, Citigroup, Johnson & Johnson, and United Airlines providing clues in the coming days on how tariffs are impacting the economy. Goldman's results are due at 7.30 a.m. Eastern.

And in other markets news today, Goldman Sachs this morning will kick off a busy earnings week with the likes of Bank of America, Citigroup, Johnson & Johnson, and United Airlines providing clues in the coming days on how tariffs are impacting the economy. Goldman's results are due at 7.30 a.m. Eastern.

Coming up, we'll dive into the journal's latest survey of economists and run through the rest of the day's headlines after the break.

Coming up, we'll dive into the journal's latest survey of economists and run through the rest of the day's headlines after the break.

Well, as the effects of tariffs have come into focus in recent weeks, we have reported here on the economic forecasts coming out of a number of individual firms, including Goldman Sachs and J.P. Morgan. But today we can do you one better by digging into The Wall Street Journal's quarterly survey of economists.

Well, as the effects of tariffs have come into focus in recent weeks, we have reported here on the economic forecasts coming out of a number of individual firms, including Goldman Sachs and J.P. Morgan. But today we can do you one better by digging into The Wall Street Journal's quarterly survey of economists.

It was just published over the weekend and brings together the thinking of some 64 academic and business economists who were polled between Liberation Day and last week's reciprocal tariff pause. And here to crunch the numbers is Wall Street Journal data news editor Anthony DeBarros.

It was just published over the weekend and brings together the thinking of some 64 academic and business economists who were polled between Liberation Day and last week's reciprocal tariff pause. And here to crunch the numbers is Wall Street Journal data news editor Anthony DeBarros.

Anthony, your report here shows that since President Trump took office, economists have dramatically slashed their growth estimates while raising their expectations for inflation and unemployment. Let's get granular about it. Define the coming slowdown as economists see it.

Anthony, your report here shows that since President Trump took office, economists have dramatically slashed their growth estimates while raising their expectations for inflation and unemployment. Let's get granular about it. Define the coming slowdown as economists see it.

Take us into some of the other findings here. You asked economists about their expectations for inflation as well as employment, two ways where Americans individually could really feel the effects of tariffs. What do they project here?

Take us into some of the other findings here. You asked economists about their expectations for inflation as well as employment, two ways where Americans individually could really feel the effects of tariffs. What do they project here?

And finally, on the risk of a recession, this probability stood at just over 20 percent when you asked in January. What about now?

And finally, on the risk of a recession, this probability stood at just over 20 percent when you asked in January. What about now?

Anthony DeBarros is The Wall Street Journal's data news editor in Washington. Anthony, thank you so much for bringing us this report.

Anthony DeBarros is The Wall Street Journal's data news editor in Washington. Anthony, thank you so much for bringing us this report.