The new tariffs Mr. Trump announced on Wednesday, which he dubbed "Liberation Day," will go into effect on April 9. They'll impact products like electronics, wine and spirits, automobiles and more.

President Donald Trump on Wednesday unveiled expansive new tariffs in a major escalation of his trade war, referring to the historic move as a “declaration of economic independence.” Trump’s risky bet to address unfair trade practices could send prices higher for American consumers and weaken economic growth,