American consumers feel Trump's tariffs

A dollar store in Lansing, Michigan, USA on April 1, 2024

Spencer Platt | Getty Images News | Getty Images

U.S. President Donald Trump has released - temporarily, the almost paradoxical suspension of tariffs has caused headaches for governments around the world as they figure out how to minimize disruption to the economy. But, ironically, American consumers may be the real victim of tariffs.

On the weekend, Temu is a Chinese e-retailer known for providing wallet-friendly items, citing “import fees.” Analysis by CNBC's Gabrielle Fonrouge and Annie Palmer found that these fees cost more than the item itself and ultimately doubled the price of a typical order.

What’s worse than the price increase is when daily necessities cannot be purchased. As asset manager Apollo said some U.S. stores may see empty shelves in a few weeks as tariffs affect China begin to filter into the economy.

Indeed, as U.S. Treasury Secretary Scott Bessent pointed out, China exports more to the United States than to import from the country. However, the implication of this trade relationship is that when Chinese exports are slowly lost, American consumers will lose more.

What you need to know today

Stocks are rising moderately
U.S. stocks traded on Monday. this S&P 500 Rises to marginal 0.06%, Dow Jones Industrial Average Up 0.28%. this Nasdaq Composite MaterialsHowever, it fell by 0.1%. The Asia-Pacific market has been rising most of the time on Tuesday. South Korea kospi The index increased by about 0.4%. The country's auto inventory has risen and the Trump administration will reduce some of the import responsibilities of automakers.

European Banks beat estimates
HSBC Bank The first quarter results announced on Tuesday exceeded expectations. Europe's largest lender's pre-tax profit soared nearly 317% from the previous quarter to $9.48 billion. HSBC also announced a $3 billion stock buyback. HSBC's listed shares rose 1.7%. On the same day, German Bank Net profit in the first quarter exceeded expectations of €1.775 billion (USD 2.019 billion). Deutsche Bank CEO Christian Sewing said the figure was 39% higher than the same period last year and was also the bank's "best quarterly profit in fourteen years."

China-US trade war is still boiling
Chinese Foreign Ministry spokesman Guo Jiakun said at a press conference on Monday that Beijing has not negotiated with the United States on a tariff agreement and that he is unaware that Chinese President Xi Jinping talks with U.S. President Donald Trump, contrary to what the latter claims. "It depends on the downgrade of China because they sold us five times the amount we sold to them," Treasury Secretary Scott Bessent told CNBC on Monday.

Tariffs raise Temu to rising prices
Chinese e-retailer Temu has begun to increase "import fees" by about 145% in response to Trump's tariffs. These fees apply to U.S. customers and are kicked on the weekend after Friday’s effective date, which may be higher than the cost of the product. "Projects imported into the United States may be subject to import fees," Temu wrote on its website.

IBM's $150 billion investment
IBM It announced on Monday that it will invest $150 billion in the U.S. over the next five years, including more than $30 billion, to boost the manufacturing of mainframes and quantum computers in the U.S. In addition, Microsoft President Brad Smith wrote on Monday that the United States is “powerless to lag” behind China in the competition to design and build a working quantum computer.

Canada's Liberal Party is expected to win elections
Canadian Prime Minister Mark Carney’s Liberal Party is expected to win the country’s national election, although it is still too early to determine whether the party will get enough seats to form a majority government. This means that Carney will continue to serve as the country's prime minister. The Liberal Party’s victory in the polls was partly due to Trump’s aggressive rhetoric on Canada, which has led to a decline in public sentiment among the Conservative Party.

(Pro) Weekly earnings expectations
The busiest week of the income season is here - over 160 S&P 500 voter plans to report, including apple,,,,, Meta Platform and Microsoft. Investors will seek guidance on how tariffs affect these companies’ bottom lines. Take a look at the CNBC Pro breakdown for expectations for this week's main report.

at last...

Traders worked on the floor of the New York Stock Exchange on March 11, 2025.

Spencer Platt | Getty Images News | Getty Images

Worst (and best) stocks in Trump's first 100 days

Some stocks have fluctuated significantly in the days since Trump returned to the White House.

He keeps our investors on alert, including programs such as tariffs and federal spending cuts. Since Richard Nixon's second term in the 1970s, the S&P 500 will record the first 100 days of its worst presidency.

Under the hood, some names see large moves. CNBC screened the S&P 500 to see which stocks have performed the best and worst since Trump returned to the Oval Office in January.