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PepsiCo said it will lower its suggested retail price on snacks including Doritos, Cheetos, Tostitos and Lays by up to 15 percent starting this week.
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PepsiCo is cutting prices on Lay's, Doritos, Cheetos and Tostitos chips this year to win back customers exasperated by years of price hikes.
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Trump's move is aimed at cutting America's dependence on China for materials essential to electric vehicles, defense systems and advanced technology.
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The central bank official said told CNBC that he has concerns because of the lack of inflation reports.
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