WASHINGTON (AP) — The global economy appeared to be in open rebellion against President Donald Trump’s tariffs as they took effect Wednesday.
Business executives are warning of a potential recession caused by his policies, some of the top U.S. trading partners are retaliating with their own import taxes and the stock market is quivering after days of decline.
Trump’s tariffs kicked in shortly after midnight, including 104% on products from China, 20% on the European Union, 24% on Japan and 25% on South Korea. Administration officials have tried to reassure voters, Republican lawmakers and CEOs that the rates are negotiable, but by their own admission that process could take
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