Liberation Day’ tariffs wipe $3.1 trillion from Wall Street as analysts predict global recession - President Trump says his tariffs are ‘going very well’ despite U.S. markets suffering their steepest

Mr. Trump announced last week that vehicles and auto parts imported into the U.S. will be subject to a 25% tariff rate. The auto tariffs are expected to go into effect at midnight, just hours after the latest round of tariff announcements by the president Wednesday afternoon.