In the last half-hour, US President Donald Trump has begun outlining his latest round of sweeping reciprocal tariffs, labelling it America's "declaration of economic independence". Keep across coverage on our live blog and on the ABC News Channel. Plus, stay with us as we break down what these tariffs could mean for Australia.
International reaction:
Global trading partners have been given plenty of advance warning about "liberation day", even if they've been kept in the dark about exactly what Mr Trump has been planning. Here's how countries around the world have prepared for the latest round of tariffs.
Back at home, the Albanese government is expected to appeal to the World Trade Organization
if Australia is targeted with tariffs. On last night's 7.30, Shadow Foreign Minister David Coleman said
the prime minister made a mistake ▶️ by choosing not to fly to Washington to lobby for a tariff exemption.
Tesla troubles: Meanwhile, Mr Trump's right-hand man Elon Musk has been dealt two blows in 24 hours. After pouring millions into an unsuccessful judicial election, the tech billionaire was handed some more bad news — sales of his Tesla cars are
falling faster than expected.
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