Scott Horsley

Even if imports from China drop sharply because of that triple-digit tax, the tariffs would still be the highest since the 1930s, when a worldwide trade war deepened the Great Depression.

Even if imports from China drop sharply because of that triple-digit tax, the tariffs would still be the highest since the 1930s, when a worldwide trade war deepened the Great Depression.

Something known as price stickiness is an economic concept describing how prices that go up quickly come down slowly, or not at all. Kenneth Louie is director of the Economic Research Institute of Erie at Penn State University.

Something known as price stickiness is an economic concept describing how prices that go up quickly come down slowly, or not at all. Kenneth Louie is director of the Economic Research Institute of Erie at Penn State University.

One factor could be manufacturers eventually shifting their supply chains away from the U.S. at a cost they would likely pass on to consumers. Scott Newman, NPR News, Washington.

One factor could be manufacturers eventually shifting their supply chains away from the U.S. at a cost they would likely pass on to consumers. Scott Newman, NPR News, Washington.

Inflation cooled even more than expected last month, thanks in part to a big drop in gasoline prices. Overall, prices in March were up 2.4 percent from a year ago. Prices actually fell slightly between February and March, although grocery prices continue to climb.

Inflation cooled even more than expected last month, thanks in part to a big drop in gasoline prices. Overall, prices in March were up 2.4 percent from a year ago. Prices actually fell slightly between February and March, although grocery prices continue to climb.

Investors would ordinarily welcome the positive inflation news, but there are lingering concerns that President Trump's trade warp could push prices higher in the months to come. While Trump has now suspended many of his new tariffs for 90 days... He left in place a 10 percent tax on nearly everything the U.S.

Investors would ordinarily welcome the positive inflation news, but there are lingering concerns that President Trump's trade warp could push prices higher in the months to come. While Trump has now suspended many of his new tariffs for 90 days... He left in place a 10 percent tax on nearly everything the U.S.

imports, along with a much higher tax that could more than double the price of goods coming in from China. Scott Horsley, NPR News, Washington.

imports, along with a much higher tax that could more than double the price of goods coming in from China. Scott Horsley, NPR News, Washington.

Double-digit tariffs on goods from dozens of countries kicked in overnight. U.S. importers are now paying 20 percent more on most things they buy from Europe, 24 percent more on imports from Japan, and the tax on goods from China now totals more than 100 percent. China punched back, announcing an extra 50 percent tariff of its own on U.S. exports. That takes effect tomorrow.

Double-digit tariffs on goods from dozens of countries kicked in overnight. U.S. importers are now paying 20 percent more on most things they buy from Europe, 24 percent more on imports from Japan, and the tax on goods from China now totals more than 100 percent. China punched back, announcing an extra 50 percent tariff of its own on U.S. exports. That takes effect tomorrow.

The escalating trade war has sparked fears of a worldwide economic slowdown, pushing the price of crude oil to a four-year low. Investors are also dumping U.S. treasuries. That's caused a sharp jump in U.S. borrowing costs, which will likely make mortgage rates here even less affordable. Scott Horsley, NPR News, Washington.

The escalating trade war has sparked fears of a worldwide economic slowdown, pushing the price of crude oil to a four-year low. Investors are also dumping U.S. treasuries. That's caused a sharp jump in U.S. borrowing costs, which will likely make mortgage rates here even less affordable. Scott Horsley, NPR News, Washington.

Stocks have mostly nosedived in the U.S. and around the world since President Trump announced his sweeping tariffs last week, but domestic stocks briefly rallied on hopes the administration might be willing to suspend some of those tariffs as it negotiates with other countries.

Stocks have mostly nosedived in the U.S. and around the world since President Trump announced his sweeping tariffs last week, but domestic stocks briefly rallied on hopes the administration might be willing to suspend some of those tariffs as it negotiates with other countries.

President Trump spoke by telephone with Japan's prime minister, and the head of the European Commission said her side is always ready to make a good deal. The short-lived rally is a sign of just how desperate many investors are for some relief from the tariffs, which threaten to raise prices and slow economic growth.

President Trump spoke by telephone with Japan's prime minister, and the head of the European Commission said her side is always ready to make a good deal. The short-lived rally is a sign of just how desperate many investors are for some relief from the tariffs, which threaten to raise prices and slow economic growth.