SCARBOROUGH, Maine (AP) — An unusual May

Trader Jonathan Corpina works on the floor of the New York Stock Exchange, Wednesday, May 14, 2025. (AP Photo/Richard Drew)Even though China and the United States recently agreed on a

, “the trade story isn’t over, and it’s still going to take time for tariffs to make themselves felt in economic data,” according to Ellen Zentner, chief economic strategist for Morgan Stanley Wealth Management.Such uncertainty showed itself in Walmart’s stock, which slipped 0.5% even thoughfor the latest quarter than analysts expected.

Like other U.S. companies struggling through Trump’s on-again-off-again rollout of tariffs, Walmart said it decided not to offer a forecast for how much profit it will make in the current quarter.Chief Financial Officer John David Rainey pointed to “the range of near-term outcomes being exceedingly wide and difficult to predict,” though the company did say it expects sales to grow between 3.5% and 4.5%, not including the swings that shifting values of foreign currencies can bring.

The nation’s largest retailer also said that it must raise prices due to higher costs caused by Trump’s tariffs.

Currency traders watch monitors near a screen showing the Korea Composite Stock Price Index (KOSPI), top left, and the foreign exchange rate between U.S. dollar and South Korean won, top center, at the foreign exchange dealing room of the KEB Hana Bank headquarters in Seoul, South Korea, Thursday, May 15, 2025. (AP Photo/Ahn Young-joon)Trump’s previously-announced

. Prime Minister Mark Carney says that Canada will match the 25% levies with aon imports of all U.S. products beginning April 10, matching Trump’s new “reciprocal” tariff on Chinese goods, as part of a flurry of retaliatory measures.

The Commerce Ministry in Beijing says it will also impose more export controls on rare earths, which are materials used in high-tech products like computer chips and electric vehicle batteries. And the government addsto lists of companies subject to trade sanctions or export controls.