For decades, global commerce abided by tariff rates agreed to by the U.S. and 122 other countries during the 1980s and 1990s. On Wednesday, Trump detonated that arrangement, saying that other countries had exploited the system and “ripped off’’ the United States for years, causing its once-mighty manufacturing base to shrink.

US has highest trade deficit in the world. Who has highest trade surplus? Here's what trade imbalance and reciprocal tariffs mean and why it matters

Africa’s largest economies, Nigeria (14 percent) and South Africa (31 percent), were among those on Trump’s “reciprocal” tariffs list — that is, countries the president said “treat us badly”.

Mitch McConnell and several other prominent Republicans are breaking rank with President Donald Trump over his universal tariff plan, which was formally announced on April 2

"It’s not always the best idea to take somebody fresh out of jail and put them in charge of your trade policy"

Wall Street is wracked by major selling as investors bet against the sweeping new trade barriers. Japan’s main stock index and Europe’s Stoxx 600 each closed 2.7% lower.

President Sheinbaum celebrated after the United States government didn't announce any "reciprocal tariffs" on imports from Mexico.

The flat 10 percent duty being applied to US imports will apply on top of any existing tariffs, but there are some exceptions.

By Jeff Mason, David Ljunggren and Satoshi Sugiyama WASHINGTON/OTTAWA/TOKYO (Reuters) - Countries around the world threatened to ratchet up a trade war with the United States as President Donald Trump's sweeping tariffs ignited fears of steep price increases in the world's largest consumer market.