President Donald Trump and his supporters point to encouraging economic indicators to argue that concerns about his tariffs are overblown. Skeptics, however, say it’s too soon to declare that all’s well.

As recently as April, the markets gyrated in response to Trump's tariff announcements. When Trump unveiled sweeping "Liberation Day" tariffs on April 2, the major stock indexes lost about $3.1 trillion in value the next day,

Inflation rose in June while wages went down, driving down buying power for consumers across the economy, federal data show.