There is no single way to predict how businesses will price items weeks or months into the future as, in addition to tariffs, they are influenced by things like consumer demand, sales strategies, and supply chains.

I'm David Westin, and this week our special contributor, Larry Summers of Harvard, goes over the “One Big Beautiful Bill,” and we take a look inside what President Donald Trump's threatened tariffs could mean for the US wine industry.

But, for now at least, a steady if unspectacular job market and a stock market hitting new highs appears to be enough to keep consumers spending. Given that consumer spending accounts for more than two-thirds of the economy’s overall output, that is a good omen.

The ongoing tariff negotiations have created a potentially more uncertain environment for electronics and other supply chains than the pandemic.

A lot could happen on the trade front in the next few weeks, from pressuring Russia on Ukraine to arguing the legality of the administration’s tariff policy. Here are a few developments to watch.

The Commerce Department plans to impose a 93.5 percent levy on Chinese graphite, an essential ingredient in the batteries that power electric vehicles.

Concerns around tariffs and conflicts in the Middle East and Ukraine have taken a backseat to more fundamental factors affecting these markets.

Brazilian airline’s CEO says threat of 50% import duty could delay group’s purchases of up to $20bn in US-made products

President Trump’s plan to impose a 100 percent tariff on Russian goods could raise the cost of urea, a key fertilizer in corn and other row crops.