Impact of Tariffs on Imports from China, Mexico, and Canada

President Trump has imposed tariffs on imports from China, leading to retaliatory tariffs. Although tariffs on Mexico and Canada have been postponed, they could still be imposed in the future. The tariffs will likely result in higher prices for consumer goods, impacting American households and the economy.

U.S. Factory Orders

Factory orders in U.S. rose for the third consecutive month in April, with a 0.7 percent increase. Durable goods orders rose by 0.6 percent, while nondurable goods orders rose by 0.8 percent. Orders for consumer goods increased by 1.2 percent.