Trump’s tariffs are sending shockwaves through global markets on fears of an escalating trade war. Follow along for live updates.

After months of delays, President Donald Trump's contentious tariff barrage is now in effect. It imposes a wide variety of new import taxes that are the steepest seen in nearly a century and affect all of the country's trade partners.

Mr. Trump has said the two new tariffs he unveiled Wednesday — a 10% universal duty on all U.S. imports and so-called reciprocal tariffs applied to imports from about 90 nations — will revitalize American manufacturing, create jobs and generate federal revenue.

Free trade has been so beneficial to so many countries that the world may find a way to live without its biggest player.

Who will be hardest hit by China-US trade war? - IN NUMBERS: As China slaps reciprocal 34 per cent tariffs on the US, Alicja Hagopian and Millie Cooke look at what industries will be hardest hit

Malaysian officials should take advantage of US president Donald Trump’s willingness to make a deal when seeking ways to adjust the recently announced 24% tariff on imports from Malaysia, says a former US trade official.