Japan's Nikkei saw a broad sell-off on Wednesday morning and other Asian markets were braced for falls, hours before the tariffs were set to take effect.
"These are tailored, highly tailored deals," Trump said at a White House event, where he signed executive orders aimed at boosting coal production.
But the White House made clear that country-specific tariffs of up to 50 per cent would nevertheless take effect at 12:01 a.m.
WATCH | How China is fighting Trump's tariffs: U.S. trade war: How China is fighting Trump’s tariffs Duration 25:39 China is hitting the U.S. in a vulnerable spot as the trade war escalates between the two.
Then, Andrew Chang explains why the math used to determine President Donald Trump’s global reciprocal tariffs is misleading.
Citing rising external risks, Citi cut its 2025 China GDP growth forecast to 4.2 per cent from 4.7 per cent.
Three out of four Americans expect prices to rise as Trump's tariffs kick in, according to a Reuters/Ipsos poll. »