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.

President Donald Trump paused his latest wave of tariffs on Wednesday after making big promises to Americans about how the tariffs would reshape the global economy with the U.S. at the center. "I thought that people were jumping a little bit out of line,

Some European Central Bank officials were more pessimistic and estimated the impact of the U.S. tariffs on the EU economy at between 0.5% and 1.0% of GDP, depending on how the tra

China announced Friday that it will raise tariffs on U.S. goods from 84% to 125% — the latest salvo in an escalating trade war between the world’s two largest economies that has rattled markets

The tit-for-tat hikes between the US and China are the latest in an ongoing trade war that threatens to raise prices for consumers in America.

China announced countermeasures on Friday, raising tariffs on U.S. goods from 84% to 125% starting Saturday. The U.S. and China have escalated trade war by raising tariffs even as U.S. President Donald Trump hit a pause on tariffs for other countries.

President Donald Trump said Wednesday he will pause reciprocal tariffs for 90 days to more than 75 U.S. trading partners except for China, whose tariff rate he said will increase to 125%, effective immediately.

Trump defended the tariffs he imposed on other nations but acknowledged some problems with the rollout in a meeting with his Cabinet, "but in the end it's going to be a beautiful thing." Meanwhile, the White House raised the tariffs on all Chinese exports to 125% after Beijing's latest round of retaliation -- that's in addition to the 20% fentanyl-related tariffs imposed in early February,