"You don't know whether or not China's going to eat it," Trump said of the potential for tariffs on Chinese goods to increase consumer prices.

The president’s taxes on imports seems likely to mean emptier shelves and higher prices, perhaps within weeks.

The U.S. Senate was poised on Wednesday to vote on a resolution to block a host of President Donald Trump's tariffs, hours after the federal government reported that the nation's economy contracted for the first time in three years amid the chaos of the president's tariff policies.