“How can you know what your financial situation is going to look like in a month?” said one expert.
It’s been a confusing ride. Here’s a timeline of what is happening and what tariffs are currently in place.
Between concerns about tariffs, health insurance premiums, and immigration crackdowns, surveys are showing small-business pessimism about the economy.
“The economy broadly is still going OK, but we are struggling with the cost of goods,” said Rob Lehmann of Fair Wind Fasteners.
“It's not the change of tariffs,” said KPMG U.S. CEO Tim Walsh, “but the fact that tariffs are changing, and then sometimes changing again.”
Constellation Brands, purveyor of Corona and Modelo beers, reports financial results after market close Monday.
Profits in the second quarter are on track for about 12% year over year growth, according to an analysis by FactSet.
Banks in Japan, England and elsewhere are weighing how tariffs will impact their national economies.
Productivity is tied to worker wages, so a drop can be cause for concern.
“Trump inherited an economy that was firing on most, but not all, cylinders,” said Ryan Sweet at Oxford Economics.