“President Trump’s punishing new tariffs on more than 90 countries snapped into place after the stroke of midnight Thursday, the latest escalation in a global trade war that has started to exact a toll on the U.S. economy,” the New York Times reports.
“Few of America’s major trading partners were spared under Mr. Trump’s updated slate of duties, which together have sent the average effective U.S. tariff rate to its highest level in nearly a century. In the hours before the import taxes took effect, the president signaled there would be more to come, as he doubled down on a strategy that has rattled markets, driven up prices and spooked consumers and businesses around the world.”
Washington Post: Trump’s tariffs take effect, potentially upending global trade and prices.
Politico: Trump’s trade onslaught escalates as global tariffs kick in.
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