President Trump‘s wide-ranging tariffs went into effect at 12:01 a.m. on Thursday, just as the economic fallout of his months of threatening them is surfacing invisible damage to the economy.
Follow along live.
Ontario premier says he doesn’t trust Trump and warns the US president could reopen trade pact — 12:33 a.m.
By the Associated Press
The leader of Canada’s most populous province said Wednesday he doesn’t trust President Trump and expects the president to soon reopen the free trade agreement he agreed to in his first term.
Ontario Premier Doug Ford said the federal government needs to prepare for that to happen this fall.
Ford made the comments after the country’s provincial premiers and Prime Minister Mark Carney met in private for the first time since Trump escalated his trade war by hitting Canada with a baseline 35 percent tariff last week.
Trump’s broad tariffs go into effect, just as economic pain is surfacing — 12:08 a.m.
By the Associated Press
President Trump was set to officially begin levying higher import taxes on dozens of countries Thursday, just as the economic fallout of his monthslong tariff threats has begun to create visible damage for the US economy.
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The White House said that starting just after midnight that goods from more than 60 countries and the European Union would face tariff rates of 10 percent or higher. Products from the European Union, Japan, and South Korea will be taxed at 15 percent, while imports from Taiwan, Vietnam, and Bangladesh will be taxed at 20 percent. For places such as the EU, Japan, and South Korea, Trump also expects them to invest hundreds of billions of dollars in the US.