Price increases could hit coffee, shoes, appliances and other products following a flurry of tariffs issued by President Donald Trump in recent days, analysts told ABC News.

Brazilian President Luiz Inácio Lula da Silva says he will impose retaliatory tariffs on the United States if President Donald Trump follows through on a pledge to boost import taxes by 50%.

U.S. President Donald Trump has launched a global trade war with an array of tariffs that target individual products and countries. Trump has set a baseline tariff of 10% on all imports to the United States,

Prices of clothing and shoes are expected to be particularly impacted by the tariffs, Yale University’s Budget Lab found.

Fed officials are increasingly split on rate cuts, though UBS's Paul Donovan says their indecision currently amounts to little more than “masterful inactivity.”

Price increases could hit coffee, shoes, appliances and other products as a result of President Donald Trump’s new tariffs in recent days, analysts told ABC News.

Global stocks advanced on Thursday, underpinned by optimism around artificial intelligence and the prospect of upcoming interest rate cuts, while investors kept a cautious eye on U.S. President Donald Trump's tariff actions and their impact on global trade.