Liberation Day,” the ball is in the court of other countries to respond to President Donald Trump’s tariffs. The statement by European Commission President Ursula von der Leyen encapsulated [the mixed

President Donald Trump has declared Wednesday "Liberation Day," when he is expected to roll out a tariff plan that will emphasize his "America First" mission.

Mr. Trump announced last week that vehicles and auto parts imported into the U.S. will be subject to a 25% tariff rate. The auto tariffs are expected to go into effect at midnight, just hours after the latest round of tariff announcements by the president Wednesday afternoon.

President Donald Trump's punishing tariffs rocked global financial markets on Thursday, with the dollar and U.S. stocks tumbling as investors rushed to safe havens on fears a broadening trade war would push an already fragile world economy into recession.

Donald Trump's tariffs will "clearly" have an economic impact on the UK and globally, Prime Minister Sir Keir Starmer has told business leaders in Downing Street. On Wednesday, the US president announced taxes on goods coming into his country including 10% on all UK imports and 20% on those from the European Union.

Trump has vowed to impose “reciprocal tariffs” on all nations that he claims disadvantage American products through trade, tax, or regulatory policy.