President Donald Trump's "reciprocal' tariffs against U.S. trading partners went into effect at midnight Wednesday, raising costs to import goods from China, Europe Southeast Asia and more.

We now have a clearer picture of Donald Trump’s “Liberation Day” tariffs and how they will affect other trading nations, including the United States itself. The US administration claims these tariffs on imports will reduce the US trade deficit and address what it views as unfair and non-reciprocal trade practices.

The world is on tenterhooks as Donald Trump prepares to ramp up his trade war further, declaring what he's calling "Liberation Day" and announcing a fresh wave of tariffs on US imports.