Last week, the president enacted a sprawling set of tax cuts that he believes to be the ingredients for rapid economic growth, even as fiscal experts warned that the law may injure the poor while putting the U.S. government on a risky new fiscal path.

The Yale Budget Lab noted that the letters sent Monday would hike the effective tariff rate on U.S. consumers to the highest since 1934.

A day later, Trump said the U.S. will impose 50% tariffs on copper, as well as 200% tariffs on pharmaceuticals.Trade deals could be coming. Japan’s top trade negotiator, for example, said July 8 that talks with the U.