Consumers aren’t even paying these Tariffs, it is mostly Companies and Governments,’ Trump continues to claim.

Goldman Sachs estimates U.S. consumers now shoulder two-thirds of President Trump’s new tariff costs, with more companies planning to pass them on in the future.

A gauge of underlying inflation in July showed prices increasing at the fastest annual pace in five months, a sign that businesses are passing along tariff-related costs to customers.

Economists expect prices to have risen 2.8% in July compared to a year earlier, which would amount to a slight uptick from 2.7% year-over-year growth in the previous month. Still, the anticipated inflation rate would clock in below 3% recorded in January, the month Trump took office.

Falling gas prices helped keep overall inflation tame in July; however, a broader array of products got even more expensive last month, showing that President Donald Trump’s expansive tariffs are being passed along to consumers.

South and Southeast Asian countries are caught in the crossfire of Trump’s trade war and are now facing some of the highest tariffs in the world

Asian shares are mostly higher after President Donald Trump delayed raising tariffs on China for another 90 days

President Trump signed an executive order on Monday to delay steep tariffs against China for another 90 days, extending the trade truce between the two countries to continue negotiations. CBS News' Ramy Inocencio has more details.