S&P 500 futures sink 1.9%, Nasdaq 100 futures slide 2.7% after Trump's new tarriffs.

Trump:

If Democrats got in, the entire economy would collapse.

Senior White House official:

Post-World War II institutions are ‘no longer fit for our times and our economic situation’.

BIG: Trump signs executive order on tariffs.

Baseline tariff rate will go into effect on April 5.

Reciprocal tariffs will go into effect on April 9.

President Trump’s new 25% tariffs will cover nearly $600 billion in vehicles and auto parts — and now extend to all computer imports, including laptops.

Interesting: Russia is not on Trump's new reciprocal tariffs list — neither under the 10% category nor any other.

Ukraine has been hit with 10% tarriffs.

🇪🇺 European Commission President von der Leyen will deliver statement at 5 a.m. Brussels time following U.S. tariff announcement.

🇺🇸🇮🇱 Israel removed all tariffs on U.S. goods yesterday— and still received a 17% reciprocal tariff in return today.

White House official:

Israel has stolen a significant amount of U.S. intellectual property in the pharmaceutical sector.

This cannot continue.

White House official:

Israel has long promised to lower its tariffs — and we’ve waited nearly 50 years for it to happen.

This is how the global trade war has begun.

🇺🇸🇨🇳 The new 34% tariff on China is in addition to the existing 20% — bringing the total to 54%, per press secretary Karoline Leavitt.

Source: CNBC Correspondent Eamon Javers

British Business and Trade Minister: Washington is our closest ally, so our approach is to remain calm.

Australian Prime Minister: We will not respond to US tariffs in kind.

Israeli economic officials are STUNNED by the U.S. decision to impose a 17% tariff.

“We are in shock. We were sure that the decision to completely cancel tariffs on imports from the U.S. would prevent this move. But it didn't happen.”

Source: Amichai Stein

CONFIRMED: Total US tariff rate on Chinese goods to rise to 54%.