Breaking : “Trump’s tariffs unsettle U.S. trade partners, causing a downturn in Asian markets: Live updates …See More

Breaking : “Trump’s tariffs unsettle U.S. trade partners, causing a downturn in Asian markets: Live updates …See More

President Donald Trump signed an aggressive and far-reaching “reciprocal tariff” policy at the White House.
Trump said his plan will set a 10% baseline tariff across the board.
The plan imposes steep tariff rates on many countries, including 34% on China, 20% on the European Union, 46% on Vietnam and 32% on Taiwan.
The White House clarified to CNBC’s Eamon Javers that the tariff rate on Beijing comes in addition to existing 20% tariffs on Chinese imports, meaning the true tariff rate on China is 54%.
Stocks fell sharply after hours following Trump’s announcement.
Canadian Prime Minister Mark Carney said Ottawa will unveil on Thursday a full set of “countermeasures” in response to U.S. President Donald Trump’s sweeping new tariffs.

“We are gonna fight these tariffs with purpose and with force,” he told reporters ahead of a cabinet meeting to discuss Canada’s response.

The U.S. Senate just passed legislation that would terminate new tariffs on Canada, shortly after Trump unveiled a raft of duties on foreign goods against global major trade partners.
South Korea’s acting President Han Duck-soo Thursday ordered emergency support measures for industries and businesses that will be impacted by U.S. President Donald Trump’s sweeping tariffs, according to a statement from the Ministry of Trade, Industry and Energy.

Han urged the ministry to closely analyze the details and impact of the U.S. reciprocal tariffs and actively negotiate with Washington to minimize the impact of tariffs.

Separately, Australian Prime Minister Anthony Albanese told reporters at a press conference that Trump’s decision is “not the act of a friend,” while ruling out responding with reciprocal levies against the U.S.
Four Senate Republicans joined every Democrat today to pass a resolution that would terminate Trump’s Canada tariffs.

The measure, introduced by Sen. Tim Kaine (D-Va.), passed with a simple majority, 51-48.

The Republicans who crossed party lines to back it were Sens. Mitch McConnell (Ky.), Lisa Murkowski (Ak.), Susan Collins (Me.) and Rand Paul (Ky.)

The resolution would terminate the national emergency that Trump used as a legal rationale earlier this year for imposing tariffs on Canada.

The Republicans’ votes were largely symbolic, given that the measure is dead on arrival in the GOP-majority House of Representatives.
But coming, as it did, just hours after Trump had unveiled a sweeping tariff plan, the vote was a bipartisan rebuke of the president’s trade policy by the U.S. Senate.