President Donald Trump's plan to impose tariffs on three of the nation's biggest trading partners Saturday could have sweeping impact across the world, and raise prices for American consumers.

U.S. consumers grappling with soaring prices for beef and eggs will face even higher costs for meat, vegetables and fruit if President Donald Trump imposes tariffs on Canadian and Mexican imports, economists and food industry executives said.

Trump tariffs of 25% on Mexico and Canada, and 10% on China, will take effect Saturday, the White House confirmed, stopping an S&P 500 rally.

President Donald Trump did not call on the Federal Reserve to bring down rates last week, but said it had failed to bring down inflation. Trump said he would take bringing inflation down into his

The Federal Reserve is not expected to lower interest rates in the near future due to inflation persistently exceeding the central bank's 2% target, states deVere Group, a prominent independent financial advisory and asset management organization.