Massive Trump tariffs leave world bracing for economic fallout as allies threaten retaliation: Live updates

By Daily Mail (U.S.) | Created at 2025-04-01 13:19:11 | Updated at 2025-04-02 19:16:15 1 day ago

By KATELYN CARALLE FOR DAILYMAIL.COM

Published: 13:44 BST, 1 April 2025 | Updated: 14:12 BST, 1 April 2025

White House aides are proposing tariffs of around 20 percent on most U.S. imports.

It came as markets and consumers await details of President Donald Trump's tariff plan, the Washington post reported.

Trump has promised to unveil his sweeping plan on Wednesday.

He has said his tariffs will target all nations.

The White House says any country that had treated Americans unfairly should expect to receive a tariff.

Follow the latest with the DailyMail.com blog 

EU has 'strong plan' to hit back at Trump tariffs

The European Union said has a 'strong plan' to retaliate against tariffs set to be imposed by President Donald Trump.

U.S. trading partners scrambled to prepare for the latest raft of Trump tariffs expected on Wednesday.

The Washington Post reported a plan for 20 per cent tariffs on most imports to the U.S. is under consideration.

EU chief Ursula von der Leyen said:

We do not necessarily want to retaliate. But if it is necessary, we have a strong plan to retaliate and we will use it.

 European Commission President Ursula von der Leyen delivers a statement on plans to strengthen the European defence industry and the EU's military capabilities, in Brussels, Belgium March 4, 2025. REUTERS/Yves Herman/File Photo

Exclusive:FK files under fresh scrutiny as Congress drags in filmmaker Oliver Stone and examines CIA's ties to assassination

Congress is set to host a hearing Tuesday to further examine how former President John F. Kennedy was killed half a century ago.

Rep. Anna Paulina Luna, R-Fla., is leading the Task Force on the Declassification of Federal Secrets' first hearing into the JFK files.

The task force was established after President Donald Trump signed an executive action to release the remaining classified files on the high-profile assassination.

Elon Musk bets big on small Wisconsin Supreme Court race

Elon Musk has dropped $20 million into a small race in Wisconsin that could prove omniscience for the 2028 midterms and for his Tesla electric car company.

The Tesla founder was in the state on Sunday to hand out two $1 million checks to help Republican candidate Brad Schimel win a seat on the Wisconsin Supreme Court in Tuesday's election.

The Wisconsin Supreme Court will decide a number of key issues in the perennial battleground state, including abortion rights, congressional redistricting and the rules for the 2028 presidential election.

But, for Musk, it's more personal.

The court also will decide a lawsuit Tesla has filed challenging a state law that forbids auto manufacturers from opening dealerships, favoring the dealerships to be independently run.

Now he and his money have become a central issue in the contest. Democratic candidate Susan Crawford has dubbed the race 'The People v. Musk.'

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