Summary

• Wall Street suffers its worst day since 2020 after Donald Trump announced a raft of worldwide tariffs last night
• In Canada, Prime Minister Mark Carney announces 25% tariffs on certain US vehicles
• The UK has drawn up a 400-page list of US products it could hit with tariffs - Henry Zeffman says it is a toughening up of Starmer’s stance
• Trump announced 10% tariffs on most countries - including the UK - from Saturday, with higher rates on some of America’s biggest trading partners from 9 April. We cover the basics in five key questions here
• As part of Your Voice, Your BBC News, our experts are answering your questions - including whether the UK is enjoying a “Brexit benefit” as well as the impact of tariffs on US customers and products

Media caption, How the US stock market is reacting to Trump’s tariffs…in 45 seconds

Donald Trump is set to unveil a plan that could effectively end decades of economic globalization, potentially launching a universal tariff on all imports into the USA.

Every time Donald Trump has discussed his plan to levy massive tariffs on imports, there have been widespread assumptions of delay, reduction, or rollback. However, today he will reveal the seriousness of his intentions in the White House Rose Garden.

The potential of a 20% universal tariff is seen as the only way to achieve the massive revenues claimed by some of his advisors. This could involve broadly bracketed tariff levels across different countries.