President Donald Trump’s 10% tariff on all countries is here. But much bigger tariffs are yet to come. As of 12:01 a.m. Eastern time today, a 10% levy on imported products from all other countries globally went into effect — with a few exemptions.

As President Donald Trump announced historically high tariffs across the world this week, I expected a number of affected governments to rapidly and collectively fight back. Instead, with the exception of China and a few scattered reprisals from allies,

Steve Liesman, Senior Economics Correspondent for CNBC, Charlotte Howard, Executive Editor at The Economist and Michael Linden, Former Senior Advisor to President Biden at the Office of Management and Budget join Nicolle Wallace on Deadline White House with continued reaction to the fallout from the stock market plunge as a result of Donald Trump’s rollout of tariffs leading to widespread panic and uncertainty for American investors and consumers.

President Donald Trump offered a rosy assessment after the stock market dropped sharply Thursday over his tariffs, saying, “I think it’s going very well.”

President Donald Trump's harsher-than-expected global tariffs sent economists scrambling to revise their economic estimates. They project the U.S. economy faces higher inflation, slower growth, and greater recession risks.

Federal Reserve Chairman Jerome Powell warned Friday that Trump's strict tariffs will worsen inflation and lower economic growth. As a result, the Fed won't change interest rates until the full economic effect is clarified.