President Donald Trump's long-threatened reciprocal tariffs took effect Thursday, slapping many nations with substantial tariff increases.

Trump initially announced the tariff levels on "Liberation Day" or April 2, ultimately delaying the plan until now to give nations time to negotiate trade deals. While many nations did strike a deal, goods from more than 60 countries and the European Union will still be hit with tariffs of 10% or more as of Thursday.

Trump has wielded the threat of tariffs as a weapon to secure trade deals for months.

In the days leading up to the August deadline, Trump unveiled a wave of major trade agreements with key U.S. partners, including Japan, the United Kingdom, the European Union and South Korea.

On Monday, Trump said he would "substantially" raise

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