President Trump celebrated his sweeping new tariffs finally taking effect on dozens of trading partners early Thursday.

Why it matters: Trump's tariff policy has begun to impact some businesses, which warn they'll have to pass costs onto consumers. But the president wrote on Truth Social as the levies took effect that "BILLIONS OF DOLLARS" were now "FLOWING" into the U.S. • Certain industries in the U.S. have benefited from tariffs that the Trump administration has imposed since the president announced the policy in April. • But some businesses have been waiting for more clarity to adapt their supply chains and pricing after the Trump administration set and then revised several deadlines for trade deals.

The big picture: The Trump administration has reached trade agreements with key

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