President Donald Trump signed an executive order Thursday placing tariffs on many U.S. trade partners — the next step in his trade agenda that will test the global economy and alliances.

President Donald Trump ’s latest tariff moves drew worries from Wall Street as stocks slumped Friday and Treasury yields fell sharply.

President Donald Trump on Thursday signed an executive order that set new tariffs on a wide swath of U.S. trading partners to go into effect on Aug. 7 — the next step in his trade agenda that will

Trump has promised that his tax hikes on the nearly $3 trillion in goods imported to the United States will usher in newfound wealth, launch a cavalcade of new factory jobs, reduce the budget deficits and, simply, get other countries to treat America with more respect.

After several delays, President Trump's tariffs take effect on Aug. 1, with new rates announced hours before

And it indicates that the fallout from Trump’s tariffs is starting to push up prices for American consumers, even before his most sweeping levies take effect. Inflation remaining stubborn even as the labor market cools will make the central bank’s task more difficult.