Important measures of the economy like the unemployment rate and inflation have stayed stable so far despite President Donald Trump's trade wars, but that could soon change, forecasters say.

Under former President Donald Trump, U.S. tariffs have soared to their highest level in nearly 90 years, averaging 18%. This increase in import costs raises questions about the financial burden on American households and the broader economic implications.

Demanding new tariffs on Europe and Apple, Trump's wild tariff approach makes it tough to do business—and will put a drain on the economy.