For decades, the U.S. was at the center of the rules-based trading system, thanks to the WTO and its massive consumer market. No longer.

Mr. Trump announced last week that vehicles and auto parts imported into the U.S. will be subject to a 25% tariff rate. The auto tariffs are expected to go into effect at midnight, just hours after the latest round of tariff announcements by the president Wednesday afternoon.

Trump has repeatedly called April 2 "Liberation Day." He is expected to enact reciprocal tariffs on major trading partners, especially those that contribute the most to the $1.2 trillion U.S. trade deficit.

Democratic California Gov. Gavin Newsom said Friday he’s seeking direct trade agreements with foreign governments to spare his state from

Analysts at Wedbush Securities and Goldman Sachs as well as top economist Larry Summers predicted much economic pain ahead.

President Donald Trump has declared Wednesday "Liberation Day," when he is expected to roll out a tariff plan that will emphasize his "America First" mission.

Trump’s tariffs are a non-strategic, “broadly inflationary” tantrum backed by clearly contradictory rationales, according to trade expert Todd Tucker.

President Donald Trump says “Liberation Day” is coming. On Wednesday, he plans to roll out a set of tariffs that he promises will free the United States from foreign goods.

All U.S. imports face a baseline 10% tariff, effective Saturday. + Higher rates will apply to partners judged "bad actors" on trade. For example, Japan faces a 24% duty and the European Union faces a 20% levy,