BUILD

President Donald Trump’s 10% "reciprocal tariff" on all trading partners is now in effect, with additional levies of up to 50% threatened against Chinese goods unless China retracts its 34% counter-tariffs. Global markets are reeling, with U.S. stocks mixed after a volatile day and China’s stock market experiencing its worst single-day crash since 2008. The EU has proposed a "zero-for-zero" tariff deal to avoid a trade war, while also preparing 25% tariffs on select U.S. imports as a precaution.