Trump’s tariffs have raised costs, driven up prices, hit key industries, and brought in $124bn ahead of August 1.

Major consumer brands like Procter & Gamble, Mondelēz and Hershey warn the tariffs will drive up costs on everyday products from popular snacks to common household items.

Caution persists as dozens of economies, including major US partners like Canada, have yet to secure trade accords.

Ford CEO Jim Farley says recent tariffs policy changes are shifting the auto industry into regional blocs and raising costs for American automakers.

Concerns about a global trade war have faded, but President Donald Trump’s tariffs will eventually come at a cost to the ...