President Donald Trump unveiled sweeping reciprocal tariffs on what he deemed “Liberation Day” earlier this week. The tariffs and threat of a global trade war sent Wall Street spiraling, and some are saying it’s Smoot-Hawley all over again.

The U.S. dollar is down 6% versus the euro so far in 2025, which means European vacations are unlikely to be a bargain this summer.

U.S. stocks opened down Friday morning after China announced retaliatory tariffs overnight, continuing a tumble beginning after Wednesday's announcement. JP Morgan now calculates a 60% chance for a recession this year.

U.S. stocks continued their plunge in early trading on Friday, just hours after China announced retaliatory tariffs in response to President Donald Trump's "Liberation Day" levies. The Dow Jones Industrial Average plummeted 1,

World cocoa, coffee and sugar prices slid again on Friday as markets remained rattled by U.S. president Donald Trump's sweeping 'Liberation Day' tariffs, especially after China retaliated with its own tariffs on U.

CGTN isn’t the only state media outlet to use AI to slam Trump’s trade policy. New China TV, the English-language social-media-focused brand of China’s official state news service Xinhua, also published on April 3 a three-minute, 18-second sci-fi short called “T.A.R.I.F.F.”

Trump wrote in all-caps on his Truth Social platform: “THE OPERATION IS OVER! THE PATIENT LIVED, AND IS HEALING. THE PROGNOSIS IS THAT THE PATIENT WILL BE FAR STRONGER, BIGGER, BETTER, AND MORE RESILIENT THAN EVER BEFORE. MAKE AMERICA GREAT AGAIN!!!”

From home goods and furniture to soft toys, sneakers and athletic apparel, a slew of U.S. companies have tapped into Vietnam in recent years in an attempt to reduce their reliance on China. They’re now taking a hit after Trump hit the Southeast Asian country with a hefty 46% tariff in his “liberation day” announcement that targeted nations around the world.