The United States’ ongoing trade war with various countries will eventually have a stagflationary impact on the economy, which the consumer will ultimately have to contend with, according to a fixed-income chief at fund company Vanguard. President Donald Trump announced a series of tariffs in April, but since then has been working to establish trade deals with the countries at risk. Thus far, he has secured deals with nations such as Japan and the United Kingdom as well as with the European Union.