April 9, 2025 11:12 AM

Trump’s latest tariffs kick in, deepening global trade war

President Donald Trump's "reciprocal" tariffs on dozens of countries took effect on Wednesday, including massive 104% duties on Chinese goods, deepening his global trade war even as he prepared for negotiations with some nations. Trump's punishing tariffs have shaken a global trading order that has persisted for decades, raised fears of recession and driven worldwide stocks sharply downward. The S&P 500 has shed nearly $6 trillion in value since Trump unveiled the tariffs a week ago, the d...