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The producer price index for final demand increased 0.8% from April, and 10.8% from a year earlier, Labor Department data showed.

U.S. Treasury does not designate any trading partners as manipulators but will work with Switzerland to address FX disparities.

New oversight of bankers' salaries might make it harder for global banks to attract talent in the country.

Price pressures are becoming entrenched in the economy, which will likely push the Federal Reserve to raise interest rates even more aggressively.

"I've never seen inventory surges like this in my career, and I've been around for a long time," said Cathie Wood, the head of Ark Investment Management.

The goal is to make the tariffs more strategic, but reducing tariffs on imports might also help with inflation.

One law professor says Elon Musk is "acting in bad faith." Another says he's "bullying" Twitter. Regardless, the social media company may feel forced to return to the bargaining table to set a new price.

Solar installers argue that the climate change benefits of solar power generation should be considered alongside any unfair trade practices of Chinese solar manufacturers. Experts think success with this argument would inevitably "open the door to a thousand other requests."