China vowed countermeasures and the E.U. promised a unified response, while Britain and Japan refrained from immediate retaliation.

The trade war President Donald Trump promised has begun, threatening the world economy and straining the United States’ longstanding alliances in Europe and Asia.

The punitive tariffs drew strong reactions from world leaders. Australia’s prime minister said they had “no basis in logic. ... This is not the act of a friend.”

From Italy to India, business owners and industry leaders are crunching numbers after U.S. President Donald Trump said he would impose a 10% baseline tariff on all imports to the United States and higher duties on some of the country's biggest trading partners.

U.S. President Donald Trump said he would impose a 10% baseline tariff on all imports to the United States and higher duties on some of the country's biggest trading partners, drawing defiant responses from leaders and governments around the world.

Global leaders braced themselves on Wednesday (April 2) as U.S. President Donald Trump prepared to impose sweeping new tariffs that would escalate a trade war with global partners, increase prices and upend a decades-old trade order.