For decades, global commerce abided by tariff rates agreed to by the U.S. and 122 other countries during the 1980s and 1990s. On Wednesday, Trump detonated that arrangement, saying that other countries had exploited the system and “ripped off’’ the United States for years, causing its once-mighty manufacturing base to shrink.

The S&P 500 was down 3.4% and the Dow Jones Industrial Average was down more than 1,100 points or 2.6% at 12:40 p.m.

World leaders reacted to President Donald Trump’s tariff blitz on April 3, with some signaling they were ready to retaliate, while others still hoped for talks.

President Donald Trump is placing steep new tariffs on virtually all U.S. trading partners, stoking fears of rising prices for consumers and deepening trade wars. The tariffs hit allies and rivals alike.

US President Donald Trump announced a sweeping new set of tariffs on Wednesday, arguing that they would allow the United States to economically flourish. These new import taxes, which Trump imposed via executive order,

Trump announced on Wednesday that his administration will be imposing reciprocal tariffs on dozens of countries. Here's when they go into effect

Speaking in the Rose Garden of the White House, the president announced new “reciprocal” tariffs on almost all America’s trading partners. There will be levies of 34% on China, 27% on India, 24% on Japan and 20% on the European Union.

World leaders aren’t taking to President Donald Trump’s tariff regime too kindly. The White House slapped a blanket 10% tariff on all imports and additional import tax rates of up to 50% on countries with trade barriers.

Trump said tariffs will force other countries to lower their own rates on U.S. goods and services. But other nations are planning to retaliate.

The sweeping tariff plan President Donald Trump unveiled Wednesday drew mixed reactions from Texas lawmakers on Capitol Hill, with the responses falling largely along party lines. Trump characterized the tariffs as a way to bring jobs and manufacturing back to the United States,

Economists were largely critical of President Donald Trump’s tariffs announcement on Thursday after the US stock market nosedived.

President Donald Trump's tariff plan will mean higher prices for American consumers, U.S. Sen. Maria Cantwell said.

This is the list of tariff rates above 10% imposed on countries released in the Annex of the executive order by the White House:

US President Donald Trump just announced steep tariffs on the country’s major trading partners. Here’s what to know. ‘Reciprocal tariffs’: The US will impose so-called reciprocal tariffs on China of 34 per cent and hit the EU with a levy of 20 per cent.

President Donald Trump's move to slap a 10% tariff on most goods imported to the United States, as well as much higher levies on dozens of rivals and allies alike, has intensified a global trade war that threatens to stoke inflation and stall growth.

U.S. Council of Economic Advisers Chair Stephen Miran told Fox Business on Wednesday that there will be short-term bumps caused by tariffs announced by Washington, while Treasury Secretary Scott Bessent urged other countries not to retaliate.

President Donald Trump has announced new import taxes on all goods entering the US, in the biggest upheaval of the international trade order since the aftermath of World War Two. His plan sets a baseline tariff of 10% on all imports,

U.S. stocks suffered major losses on Thursday at close of the first trading session after President Donald Trump's sweeping tariffs announcement.

Elon Musk and President Donald Trump have recently suggested that the billionaire entrepreneur's time in the administration might be running out.

President Donald Trump confirmed Thursday that Elon Musk ― the billionaire he tasked with gutting federal spending and firing tens of thousands of government workers ― could soon be on his way out. “There’s a point at which time Elon’s gotta have to leave,

President Donald Trump said he wants Elon Musk to stay on his team "as long as possible" during a conversation with reporters Thursday, noting that DOGE had found something "horrible," without divulging further details.

Elon Musk said he will leave when his work with DOGE is done. Could he resign from DOGE soon? And how would DOGE stimulus checks be impacted?

JD Vance has dismissed reports Elon Musk is being sidelined by Donald Trump. The vice president said Mr Musk will “remain a friend and advisor to me and the president” even after his 130 days as a “special government employee” are up.

In the coming weeks, Musk will begin dialing back his role in Washington. Trump has told his inner circle and members of his Cabinet that both men have agreed he’ll be transitioning out of the administration and his polarizing role atop the DOGE initiative and stepping into a more supportive role.

President Donald Trump gave billionaire adviser Elon Musk a fresh endorsement on Thursday amid criticism of Musk's government reduction project and said he can stay "as long as he likes" but will eventually return to his businesses.

A top employee of billionaire Elon Musk who is now working in the U.S. Justice Department previously bragged about hacking and distributing pirated software, according to archived copies of his former websites reviewed by Reuters.

Elon Musk is expected to step down from his government role in Trump's DOGE initiative amid rising political backlash and internal frustrations, though he will likely remain an influential adviser.