Mr. Trump announced last week that vehicles and auto parts imported into the U.S. will be subject to a 25% tariff rate. The auto tariffs are expected to go into effect at midnight, just hours after the latest round of tariff announcements by the president Wednesday afternoon.

Canadian Prime Minister Mark Carney placed counter-tariffs on U.S. vehicles that are not compliant with the United States-Mexico-Canada Agreement in response to President Donald Trump’s tariffs. On Feb.

The diagnosis was delusional on Truth Social early Thursday. President Donald Trump cast himself as a doctor performing surgery in a post regarding his “Liberation Day” onslaught of trade-war escalating tariffs.

President Donald Trump said countries, whether staunch allies or adversaries, would be subject to at least a 10% tariff.

Trump has repeatedly called April 2 "Liberation Day." He is expected to enact reciprocal tariffs on major trading partners, especially those that contribute the most to the $1.2 trillion U.S. trade deficit.

Selling of U.S. stocks accelerated Thursday in the final hour of trading after President Donald Trump announced his latest plan for tariffs, sparking fears of a global trade war.

Some countries are promising swift countermeasures; others are asking for an opportunity to negotiate with the U.S. to avoid trade war.

"The tariffs could increase Apple product prices by about 10% in the coming months, which could lead to price increases of $50 to $150 on higher-end products like the iPhone Pro Max models and MacBook Pros," Stephan Shipe, a certified financial planner and CEO of Scholar Financial Advising, said in an email.

Four Senate Republicans helped pass a Democratic resolution opposing President Donald Trump's tariffs on Canada after White House "Liberation Day" event.