As of April 10, Citi economist Andrew Hollenhorst believes that the suspension of the U.S. collection of so-called reciprocal tariffs on most trading partners does not mean that the U.S. economy has avoided a slowdown and a rise in inflation. During the 90-day suspension, the 10% benchmark tariff remains in effect, as well as tariffs on certain sectors, which raises the effective U.S. tariff rate by approximately 21 percentage points compared to the level at the beginning of the year. Uncertainty in trade will continue to exist. Citi still forecasts that the Federal Reserve will lower interest rates in May or June.