Are tariffs inflationary? Who will shoulder the increased cost? Will tariffs cause a recession? How do tariffs affect different products?

Donald Trump's new tariffs on Canada, Mexico and China have sent shock waves through financial markets. Those were the almost immediate reactions to US President Donald Trump's new tariffs on Canada,

Fresh tariffs amid high inflation are making the Fed’s job uniquely difficult and feeding uncertainty about what to expect for interest rates this year.

By Michael S. Derby and Howard Schneider (Reuters) -The Trump administration's plans for trade tariffs come with inflation risks, three Federal Reserve officials warned on Monday, with one arguing that uncertainty over the outlook for prices calls for slower interest-rate cuts than otherwise.