Higher tariffs could keep a stockpile of unused products and fears over Medicaid funding: Morning Rundown

Companies warn stores could see far less stocked shelves unless Trump changes his tune on tariffs. A woman worries that potential cuts to Medicaid would threaten life-saving treatments for her son. And a polarizing NFL prospect remains on the board for the draft.

In today's newsletter: Companies warn that stores could see empty shelves unless Trump changes his tune on tariffs. Fears that potential Medicaid cuts could impact life-saving treatments. And a polarizing NFL prospect remains on the board for the draft.

Here’s what to know today.

President Donald Trump’s tariffs first sent stocks on a chaotic ride of steep losses and rallies. Now, retailers are warning that his trade policy is poised to cause pandemic-era product shortages that could see empty shelves at major retailers.

Customers shop at Costco in Niantic, Conn., on April 18, 2025.Robert Nickelsberg / Getty Images fileExperts say lower-cost footwear, apparel and toys could be the first items to go missing from store shelves in the coming months. Companies have been canceling their shipments of goods from China and halting new orders after Trump put a 145% tariff on nearly all Chinese imports this month, meaning Americans could find far fewer options during back-to-school and holiday shopping than they are used to.

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