Indonesia also has agreed to purchase billions in U.S. energy, agriculture products and airplanes, Trump said July 15 in a social media post.

The average effective tariff rate has been around 16%, Morgan Stanley Wealth Management calculates, 5 times higher than the past average of 3%.

Inflation rose last month to its highest level since February as President Donald Trump’s sweeping tariffs push up the cost of a range of goods, including furniture, clothing, and large appliances.

On "What's Moving Your Money with Spencer Hakimian," Spencer discusses the latest June CPI report showing a continued trend of upwards inflation—and warns that President Trump's tariffs, which haven't even been fully implemented to their full threatened extent,

The economy and the markets are "under surveillance" as we cover the latest in finance, economics and investment.

Consumer inflation likely accelerated in June, as the Trump administration's tariffs start to push up prices. The Labor Department's consumer-price index for last month is due at 8:30 a.m. ET Tuesday.

U.S. stock futures fell Sunday, a day after President Donald Trump threatened to impose new 30% tariffs against imports from Mexico and the European Union.

Markets enter the heart of earnings season with the S&P 500 ($SPX) (SPY) facing a critical test as major financial institutions kick off quarterly results amid escalating trade tensions. President Trump's Saturday announcement of 30% tariffs on the European Union and Mexico,