What I’m Reading:

Americans are paying more for appliances, home furnishings, toys and shoes than they were a few months ago, and they could soon face higher prices on more goods as the Trump administration’s latest round of sharper tariffs kicks in.

The newest round of duties took effect Thursday, lifting the average U.S. tariff rate to its highest level since the Great Depression. The move solidifies the president’s trade policy after months of negotiations, meaning more manufacturers and retailers are expected to begin raising prices in short order.

— Jaclyn Peiser / “Cars, coffee and clothing are poised to get pricier with new tariffs” / Washington Post