The hope on Wall Street is that Trump is using the threat of tariffs as a tool for negotiations and that he’ll ultimately go through with policies that would mean less damage for the global economy and trade. Tariffs could raise prices on everyday items even more for U.S. households, when high inflation has proven to be stubborn to subdue fully.

By Johann M Cherian, Sukriti Gupta and Chibuike Oguh NEW YORK (Reuters) -Wall Street's main stock indexes slipped on Monday after data showed a slight dip in U.S. manufacturing and as investors waited for President Donald Trump's decision on tariffs.