The Consumer Brands Association also warned 20,000 U.S. food manufacturing jobs could be endangered if more costly products cause a drop in sales.

Donald Trump continues to ramp up tariff rates even as they face pushback in court. Here's what it will mean for you and your cost of living.

U.S. consumer prices likely increased moderately in May amid relatively cheaper gasoline, but the Trump administration's import tariffs probably started filtering through to other goods, potentially raising underlying inflation pressures.