Live updates: Trump tariff plans finalized as U.S. trade partners brace for impact

Live updates: Trump tariff plans finalized as U.S. trade partners brace for impact


New tariffs will take effect ‘immediately’

Trump’s new tariffs will take effect “immediately” after he announces them in the Rose Garden, White House press secretary Karoline Leavitt said Tuesday.

The timeline offered a morsel of clarity about the reciprocal tariff plan, which remains highly opaque just hours before it is set to be unveiled.

Kevin Breuninger

Mexico, Canada pledge greater trade cooperation in face of Trump tariffs

Canada’s Prime Minister Mark Carney takes part in a press conference to discuss a response to U.S. President Donald Trump’s new tariffs, in Ottawa, Ontario, Canada March 27, 2025. 

Blair Gable | Reuters

Canadian Prime Minister Mark Carney and Mexican President Claudia Sheinbaum spoke on the phone in advance of looming U.S. tariffs to reaffirm their “strong trading and investment relationship,” Ottawa said.

“With challenging times ahead,” the two leaders “emphasized the importance of safeguarding North American competitiveness while respecting the sovereignty of each nation,” Carney’s government said in a statement after Tuesday’s call.

Carney also laid out his “plan to fight unjustified trade actions against Canada” by the Trump administration.

In separate remarks to reporters on Tuesday, Carney said Canada is prepared to retaliate against whatever actions the U.S. takes Wednesday.

“We have held back, but we will not disadvantage Canadian producers and Canadian workers relative to American workers,” he said.

Kevin Breuninger

Tariffs come as U.S. economy is flashing warning signs

Shoppers cast shadows as they carry their bags along the waterfront in Portland, Maine, U.S, December 26, 2024. 

Kevin Lamarque | Reuters

Trump is about to drop a sweeping tariff policy on an economy that already seems to be showing cracks.

Several top analysts have lowered economic growth projections in recent weeks and warned of persistent inflation, dragging the term stagflation back into the conversation.

Strategists and fund managers have also recently raised the probability of a recession, a shift that stems in large part from concerns about the Trump administration’s fiscal policies.

These fears coincide with a highly volatile stock market and souring sentiment from consumers and businesses alike.

Kevin Breuninger



Source

PBS sues Trump over executive order to cut funding
Politics

PBS sues Trump over executive order to cut funding

The Public Broadcasting Service on Friday sued President Donald Trump to block his attempt to cut off its federal funding, and accused the president of retaliating against the public broadcaster over “perceived political slights in news coverage.” Trump’s executive order targeting PBS’ funding “will upend public television,” lawyers for the broadcaster behind “Mister Rogers’ Neighborhood” […]

Read More
Elon Musk deflects question about report of drug use, family drama as Trump looks on
Politics

Elon Musk deflects question about report of drug use, family drama as Trump looks on

Tesla CEO Elon Musk speaks alongside U.S. President Donald Trump to reporters in the Oval Office of the White House on May 30, 2025 in Washington, DC. Kevin Dietsch | Getty Images Tesla CEO Elon Musk on Friday deflected a reporter’s effort to ask the mega-billionaire about a New York Times article detailing his alleged […]

Read More
Trump, Elon Musk to hold joint event as DOGE loses its leader, top staffers
Politics

Trump, Elon Musk to hold joint event as DOGE loses its leader, top staffers

President Donald Trump on Friday will host a press event to celebrate Elon Musk as the Tesla CEO concludes his official government service after four turbulent months leading the so-called Department of Government Efficiency. Musk’s scheduled departure comes at a precarious moment, both for DOGE and for his relationship with the president. Multiple top staffers […]

Read More