President Donald Trump has insisted that prices are falling, even as consumers continually express concern about the economy. He has repeatedly attacked Federal Reserve Chair Jerome H. Powell for not lowering interest rates to offset the effects of his trade war.

Tuesday’s report could provide an early read on how Trump’s duties will affect the prices Americans pay for necessities.

Trump claimed last month that gasoline prices had fallen as low as $1.98 in a couple of states. On Friday, Trump voiced a similar assertion on social media, saying, "Gasoline just broke $1.98 a Gallon, lowest in years."

President Donald Trump falsely claimed Tuesday that he warned during his 2024 campaign that his tariffs would require Americans to experience the challenges of a “transition period.”

The move would align prescription costs in the US with the costs of other countries, according to the administration.

The Trump administration has made moves to ease tariff tensions with China, but the situation remains uncertain in the longterm.

Health policy experts said it is still unclear how much prices will go down, which medicines will be impacted and whether the effort can be implemented at all.

Unlike Trump's first term, his proposed "most favored nation" policy, tying U.S. drug prices to the lowest prices paid by other developed countries, might make it this time.

President Trump called out Jerome Powell in a Truth Social post for not lowering interest rates this week, continuing his attacks on the Fed chief.

In this video, we unpack Trump's peace promises across major global conflicts — Russia-Ukraine, Israel-Hamas, and the India-Pakistan tension — and what the ground reality looks like now.