New data showing price increases last month could foreshadow even higher costs if the president imposes steep tariffs on Aug. 1.

The Trump administration has dialed back aggressive measures against China and reversed its position on technology controls as the president angles for a Chinese trip later this year.

President Trump announced that he had secured a deal with the country that will leave a 19 percent tariff in place, though no details were immediately available.

President Trump and his top aides have criticized Jerome H. Powell, the Fed chair, for his management of both the economy and a $2.5 billion revamp of the central bank’s headquarters.

The administration provided some insight into the terms that were agreed upon between Indonesia and the United States, hinting at how other vague and hastily negotiated deals may turn out.

The administration has repeatedly criticized Jerome H. Powell, the chair of the central bank, for his handling of the economy and the cost of work on the institution’s headquarters.