Consumer confidence falls. But worries over the big economic picture don't necessarily translate into fewer purchases by consumers. NPR's Scott Horsley reports.
Scott Horsley is NPR's Chief Economics Correspondent. He reports on ups and downs in the national economy as well as fault lines between booming and busting communities.
President Trump announced sweeping tariffs on imported goods, which were higher and broader than many expected. The new import taxes are expected to raise prices and slow growth in the U.S., while pushing many other countries into recession.
President Trump ordered steep new tariffs on imports from around the world. Economists say they could lead to higher prices and slower growth, as well as huge changes in the global economic order.
The U.S. has generally kept tariffs low, but a few domestic industries have long been protected by import taxes and other trade barriers. They offer clues about how Trump's new tariffs might work out.