
The new tariff would be imposed immediately, the president confirmed.
A wider trade gap could be a net drag on U.S. growth prospects in the second quarter.
Weaker confidence and renewed price pressures have not stopped consumers from opening their wallets.
Employment conditions have been improving over the past three months after a rocky start to 2026.
Second-quarter GDP outlook remains strong.
Upcoming data suggest inflation pressures could be cooling.
The funds will reduce construction costs, cover large equipment purchases, and accelerate the rollout of new nuclear reactors, officials said.
‘Today’s results underscore the strength of the banking system,’ Michelle Bowman, the Fed vice chair for supervision, said in a statement.
The bipartisan bill is the first major housing legislation passed by Congress in decades.
Factory growth has been supported by front-loading amid war-driven price pressures.