What do Federal Reserve leaders think about President Trump’s tariffs and how they will affect inflation? And how will they react if he imposes stiff sanctions on other countries?

In starting a process to impose reciprocal tariffs on American trading partners, the White House is sowing uncertainty and risking inflation.

President Donald Trump doubled down on his extraordinary push for more balanced trade, ordering on Thursday that agencies should investigate plans for new reciprocal tariffs that could boost America’s revenue — but could also ignite a global trade war and add to America’s rebounding inflation problem.

President Donald Trump’s shift in policy to reciprocal tariffs is a relief to markets, U.S. consumers and most trading partners.

Hot inflation has raised the stakes of President Trump’s plans to escalate his use of tariffs on the country’s biggest trading partners, risking even higher consumer prices and pushing back the prospects of the Federal Reserve lowering interest rates soon.

President Donald Trump is taking a blowtorch to the rules that have governed world trade for decades. The “reciprocal’’ tariffs that he announced Thursday are likely to create chaos for global businesses and conflict with America’s allies and adversaries alike.

President Donald Trump revealed his most sweeping economic measure yet Thursday, announcing reciprocal tariffs that could come as soon as this spring, which Trump argues would level the playing field in global trade—though economists project they would increase inflation this year.

The biggest foreign supplier of cars was Mexico ($49 billion), followed by Japan ($40 billion), South Korea ($37 billion), Canada ($28 billion) and Germany ($25 billion).