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Matt Priest, president and CEO of the FDRA, said that the cost of shipping goods from China will likely rise as many companies scramble to get orders to the U.S. during the 90-day window.“We’re not out of the inflationary cost woods yet,” he said.

And economists say average tariffs are now at about 18%, roughly six times higher than before Trump took office and the highest in about 90 years.Consumer prices cooled noticeably in February and March, prompting Trump to claim repeatedly on social media that there is “NO INFLATION.” Inflation has fallen to nearly the 2% target set by the Federal Reserve, the agency charged with fighting higher prices.The Fed would have likely been gearing up to restart interest rate cuts in the absence of tariffs because inflation is down. It reduced its benchmark rate three times last year. However, it has since frozen rates while it

of how the tariffs — and other policy changes, such as immigration restrictions and potential tax cuts — affect the economy.The smaller import taxes on Chinese goods will limit the damage to the U.S. economy, but combined with all the other tariffs, economists forecast they will still slow growth this year and worsen inflation.

People visit an Apple store promoting its iPhone 16 at an outdoor shopping mall in Beijing, Sunday, May 11, 2025. (AP Photo/Andy Wong)

People visit an Apple store promoting its iPhone 16 at an outdoor shopping mall in Beijing, Sunday, May 11, 2025. (AP Photo/Andy Wong)“Titane,” “Triangle of Sadness,” “Anatomy of a Fall” and

AP correspondent Julie Walker reports the Cannes firm festival awards it’s top prize Saturday to an Iranian film.All those films were Oscar contenders and two, “Parasite” and “Anora,” won best picture.

Last year, filmmakerto attend the premiere of his film in Cannes and resettle in Germany. Panahi, though, has said that unlike his friend Rasoulof, life in exile isn’t for him. He planned to fly home to Tehran on Sunday.