Editor’s note, August 7, 10:30 am ET: On August 7, Trump’s tariffs went into effect for more than 90 countries. The story below was originally published on April 2.

Since President Donald Trump announced a slate of new tariffs on about 90 countries last week, global financial markets have tumbled. False reports about a potential pause in tariffs gave Wall Street a brief moment of false hope on Monday, but the White House has only doubled down, threatening to add more tariffs on China. Economists have also raised the alarm, projecting that Trump’s tariffs have increased the odds of a recession.

This is just the latest update to tariff policies that have already caused a good deal of whiplash since Trump took office in January. He threatened to impose tariffs on Colombia and canceled his p

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