President Donald Trump’s rapidly evolving trade war threatens to resurrect an all-too-familiar question for the Federal Reserve: If inflation moves higher, will it be transitory?

Donald Trump has imposed tariffs on China, Canada and Mexico and this move will hit the US economy. The US President has said that 25 percent American tariffs on imports from Canada and Mexico will take effect from Tuesday after the 30-day pause on duties,

The country’s top leaders set an optimistic growth target but gave few hints of how to achieve it as their export-led strategy is challenged by rising tariffs on Chinese goods.