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Prices rose 2.6% in June compared with a year ago, the Commerce Department said July 31, up from an annual pace of 2.4% in May.

American gross domestic product — the nation’s output of goods and services — rebounded after falling at a 0.5% clip from January through March, the Commerce Department reported July 30.

The U.S. government withdrew from a long-standing trade agreement with Mexico governing tomato imports and will push forward with a new tariff of just over 17%.

A key inflation gauge moved higher in May in the latest sign that prices remain stubbornly elevated while Americans cut back on their spending.

A key U.S. inflation gauge slowed last month as President Donald Trump’s tariffs have yet to noticeably push up prices, while American incomes jumped.

The U.S. merchandise-trade deficit unexpectedly widened in March to a record as companies continued importing goods to get ahead of tariffs, indicating a large hit to the economy in Q1.

An inflation gauge closely watched by the Federal Reserve remained high last month even before the impact of most tariffs has been felt. 

The Senate confirmed wealthy financier Howard Lutnick as commerce secretary Feb. 18, putting in place a staunch supporter of President Donald Trump’s hardline trade polices.

The panel with jurisdiction over freight policy voted 16-12 to report Howard Lutnick’s nomination to the full Senate. Sen. John Fetterman (D-Pa.) joined Republicans in support.

Oil fell below $73 a barrel after President Donald Trump’s pick for commerce secretary suggested tariffs on Canada and Mexico are not a done deal.