The impact of Trump's tariffs on consumer prices has been delayed, but recent data shows a shift. Discover how inventory strategies and economic factors initially masked these effects, and why June marked a turning point.

President Donald Trump in recent days slapped tariffs as high as 50% on dozens of countries, restoring the type of aggressive trade policy that sent stocks plummeting a few months ago. The new round of levies prompted little more than a shrug on Wall Street.

Four months since Trump fired the opening salvo of his trade war, only China and Canada have dared to hit back at Washington imposing a minimum 10 per cent global tariff, 50 per cent levies on steel and aluminium, and 25 per cent on autos.

Trump announced a 50% tariff on copper imports Tuesday, triggering a jump in U.S. copper prices that could cause an increase in metal theft.

The president has earned a reputation for bluffing on tariffs. But he has steadily and dramatically raised U.S. tariffs, transforming global trade.