"Effective at midnight, we will impose a 25% tariff on all foreign-made automobiles," President Donald Trump said.

Additional tariffs include a 10% baseline on all imports, with steeper rates for key partners: Japan at 24%, South Korea at 25%, the European Union at 20%, and China at 54%.

The president targeted over 60 countries with retaliatory tariffs.

Canadian Prime Minister Mark Carney responded, "We are going to fight these tariffs with countermeasures."

There's even pushback within his own party. Kentucky Sen. Rand Paul says, "Tariffs have also led to political decimation, so they're not only bad economically, they're bad politically."

As the president was making the announcement, financial markets reacted and U.S. stock futures plunged. The question remains: Is the president pushing the U.S. into a recession and how much can the people take?

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