Trump announces new US tariffs of at least 10% on all imports

The US stock market has suffered sharp falls in response to the tariffs, with the Dow Jones Industrial Average plummeting by 1,137 points, or 2.7%. Other major stock indexes in the US and around the world have also fallen, with the FTSE 100 in London sliding 1% and the Dax in Germany dropping 1.61%. The tariffs have sparked widespread criticism and anxiety around the world, with many warning of the dangers of a trade war. Trump, however, claims that the tariffs are necessary to protect American workers and industries, and that they will "bring back our country" from the brink of economic collapse.

US President Donald Trump has unveiled a new tariff regime, imposing a 10% baseline tax on imports from most countries, with countries having significant trade surpluses with the US facing higher rates. The move has sparked concerns over an escalating trade war, with the dollar falling against major currencies as the announcement was made. Trump framed the tariffs as a blow against unfair trade practices and a necessary step to protect US industries.