The Fed chief warns higher inflation is likely although officials routinely say their outlook depends on how Trump’s policies — on trade, immigration and more — shake out.

Fed Chair Jerome Powell says inflation is likely to go up amid President Trump's tariff turmoil. The Dow dropped after Powell's comments. National Affairs Correspondent at The Nation John Nichols joins Katy Tur to explain more.

The White House is now negotiating trade deals with dozens of countries after President Donald Trump paused the worst of his sweeping tariffs for 90 days, with negotiators from Japan visiting the White House on Wednesday, as foreign countries suggest the pause will give them breathing room as they seek to reach deals with the Trump administration.

Boeing already was suffering in its competition with Airbus before Trump started his tariff war. That won't make things any easier for America's top export company.

California has filed a lawsuit challenging President Donald Trump's tariffs. Democratic Gov. Gavin Newsom said Wednesday that Trump lacks the authority to impose the sweeping 10% tariff on all imports.

The lawsuit from California’s Democratic governor and attorney general claims President Donald Trump exceeded his authority in imposing tariffs that they say are creating immediate and irreparable harm to California’s economy.