Donald Trump’s “Liberation Day” tariffs sent shockwaves through markets around the globe seeing Apple stock slide more than six percent in late-night trading Wednesday. The president announced that blanket 10 percent tariffs will be imposed on all nations in a speech at a “Make America Wealthy Again” event in the White House Rose Garden shortly after regular trading hours closed in the U.

By Christoph Steitz, Casey Hall and David Gaffen FRANKFURT/SHANGHAI/NEW YORK (Reuters) - Businesses around the globe on Thursday faced up to a future of higher prices and reduced access to the world's largest market after U.

Where does the money collected from tariffs go? How soon will prices rise for consumers? What tariffs are other countries charging on U.S. goods?

In the March 31 letter also addressed to Secretary of the Treasury Scott Bessent and U.S. Trade Representative Jamieson Greer, MichAuto and the Detroit Regional Chamber advised against proceeding with tariffs on assembled vehicles from Canada and Mexico and parts that come from outside of North America.

President Donald Trump says Wednesday will be “Liberation Day” — when he plans to roll out a set of tariffs he promises will free the United States from foreign goods

Though many of their vehicles will be exempt from Mr Trump’s tariffs, the 530,000 cars that Toyota ships from Japan to America each year, for instance, will not. Most of the Audi-branded cars that Volkswagen sells in America are made in Europe.

Donald Trump announced a sweeping new set of reciprocal tariffs on Wednesday, arguing that they would allow the United States to succeed. Trump's tariffs, which he imposed via executive order, are expected to send economic shockwaves around the world.

Trump also faced the first rebuke from the Senate of his second term, as four GOP lawmakers joined with Democrats to pass a bill Wednesday evening to overturn the president’s tariffs on Canada. Stock markets in Asia and Europe tumbled Thursday,