Meanwhile, there have been a number of anti-Trump demonstrations taking place across Europe and the US.

From Berlin to London, protesters have hit out against the US president and billionaire Trump adviser, Elon Musk, calling for an "end to the chaos" and expressing support for Ukraine.

Image source, PA Media

Image source, Reuters

Image source, Reuters

Image source, AP

We can bring you the latest images of Donald Trump, who has been seen reading Saturday's New York Post, while on his way to the Trump National Golf Club in Jupiter, Florida.

The US president appears to be reading a double-page spread in the paper headlined, "China: Yeah? Try These Tariffs Out", under a banner that says "World War Fee".

The article reports on Beijing's retaliation of 34% tariffs and the fall of the Dow Jones index on Friday.

Image source, Reuters

Trump's message to 'hang tough' is nod to stock market turmoilpublished at 16:10 British Summer Time 5 April

16:10 BST 5 April

Marc Ashdown
Business correspondent

Image source, EPA

Donald Trump's post on his Truth Social platform today seems to be a nod to the fall in global markets that has taken place in the past couple of days.

"Hang tough, it won't be easy but the end result will be historic," Trump said in his post.

In the meantime, analysts are pointing out that the changes the president hopes to make, takes time. They've got to build factories. They've got to create jobs.

One analyst we spoke to said: if you want to pay $3,500 (£2,700) for an iPhone, build it in America. If you want to pay $1,000 (£770), build it in China. If you want to pay $400 (£310) for a pair of Nike sneakers, create them in America; $100 (£78), create them in Vietnam.

So, that gives you an indication that this isn't an overnight issue.

Image source, Reuters

Japan's Prime Minister, Shigeru Ishiba, says he plans to hold a phone call with President Donald Trump, after the White House announced a 24% tariff on Japanese imports to the US.

Speaking on Yomiuri TV, Ishiba suggested that Japan would not hit back with retaliatory measures.

• As a reminder: Some countries, like India and the UK, are hoping to negotiate a trade deal with the US that will spare them from Trump's tariffs. Others, like China, have hit back with retaliatory action

Image source, Reuters

One of the tariffs announced by Donald Trump during his "Liberation Day" speech on Wednesday was a 25% tariff on all car imports.

As a reminder, the president sees the measure as a way to lure US manufacturers back home, and entice foreign companies to set up shop in the US.

The vehicle tax went into effect almost immediately, and since then car manufacturers have been swift to act:

• Jaguar Land Rover has today said it will "pause" shipments to the US this month, as it considers how to address "the new trading terms" of Trump's tariffs
• Meanwhile carmaker Stellantis has said it will temporarily shut down its assembly plant in Windsor, a Canadian city on the US border, next week due to the new tariffs
• However, Nissan is considering shifting some of its production to the US, according to reports. It has also announced it's reversing plans to scale back its operations in Tennessee
• The United Auto Workers union - which represents those working in car manufacturing - has applauded the introduction of tariffs, saying the move "signals a return to policies that prioritise the workers who build this country, rather than the greed of ruthless corporations"

Image source, EPA-EFE/REX/Shutterstock

As we've been reporting, Donald Trump's 10% "baseline" tariff on all imports to the US has come into effect today.

Companies bringing foreign goods into the country will have to pay the tax to the government, although this could have knock-on effects for consumers.

Countries facing the baseline rate include:

• United Kingdom
• Singapore
• Brazil
• Australia
• New Zealand
• Turkey
• Colombia
• Argentina
• El Salvador
• United Arab Emirates
• Saudi Arabia

China and the European Union - which Trump has described as “the worst offenders” on trade - will face steeper tariffs that will kick in on 9 April.

Israeli Prime Minister Benjamin Netanyahu will meet with US President Donald Trump at the White House on Monday.

The news agency Reuters is reporting that the leaders will discuss the tariffs recently imposed by Trump, citing officials from the two countries.

Israel is one of around 60 countries to face steeper tariffs from the US - with a 17% levy on Israeli imports to the US to come in to effect on 9 April.

The meeting will mark Netanyahu's second visit to the White House during Trump's second term in office - the two leaders met in February to discuss the war in Gaza.

Image source, Reuters

Donald Trump sees tariffs as a way to lure US manufacturers back home and entice foreign companies to set up shop in the US.

Trump believes increased taxes on foreign goods would make them uncompetitive, with the aim of spurring domestic industries, whose products are exempt from import levies. Increased domestic production would lead to jobs at home, he argues.

He also wants to use the money raised from tariffs to pay for his proposed tax cuts at home, which are yet to be passed by Congress.

In other instances, Trump views tariffs as a bargaining tool for other policy priorities. In March, he imposed a 25% tariff on Canada and Mexico because he believes the US's neighbours are not doing enough to stop migrants and fentanyl from crossing into the US.

• Read more: What are tariffs and why is Trump using them?

The UK's luxury car maker, Jaguar Land Rover (JLR), says it will "pause" shipments to the US in April, as it considers how to address "the new trading terms" of Trump's tariffs.

"As we work to address the new trading terms with our business partners, we are taking some short-term actions, including a shipment pause in April, as we develop our mid- to longer-term plans," JLR said in an emailed statement to the BBC.

JLR confirmed the temporary export suspension after the Times newspaper reported the plan.

It's approaching 09:00 in Washington DC and US President Donald Trump has made his first comments since 10% tariffs on all imports into the US have come into effect.

"China has been hit much harder than the USA, not even close. They, and many other nations, have treated us unsustainably badly," he writes in a post on his Truth Social platform. "We have been the dumb and helpless 'whipping post', but not any longer."

The president then says the administration is "bringing back jobs and businesses like never before," before declaring: "THIS IS AN ECONOMIC REVOLUTION, AND WE WILL WIN. HANG TOUGH, it won’t be easy, but the end result will be historic."

The US is waking up to its first day under Donald Trump's new trade rules.

Yesterday, Wall Street closed one of its most volatile weeks in years, shaking investors and sending economic shockwaves around the world.

Here’s a quick look at what’s happened:

• New 10% import taxes on all imports to the US have now come into effect
• Products from dozens of countries – including major partners like China and the EU – will face even higher rates from 9 April
• On Friday, all three major US stock indexes dropped more than 5%, with the S&P 500 falling nearly 6%
• Markets in other parts of the world, including the UK, also saw sharp declines
• Trump is standing firm on the new tariffs – “hang tough,” he tells supporters on social media
• But some Americans are worried, with the head of the National Black Farmers Association saying the move adds uncertainty “at a critical time”

We’ll keep you updated – stay with us.

Image source, Getty Images

Image source, Reuters

The US market may have dropped sharply last week, but for US Treasury Secretary Scott Bessent, Trump's tariff policies aren't necessarily to blame.

“For everyone who thinks these market declines are all based on the President's economic policies, I can tell you that this market decline started with the Chinese AI announcement of DeepSeek,” Bessent said in an interview with Tucker Carlson posted on Friday.

DeepSeek, a rival to models like ChatGPT, launched its latest version in January. Bessent implied it's behind the drop in major US tech stocks, often called the Magnificent 7.

“I'd say it's more a Mag 7 problem, not a MAGA problem,” he told Carlson.

As we've been reporting, a new 10% tariff comes into effect today, affecting many countries, including the UK.

But this isn’t the first time Donald Trump has introduced tariffs during his second term as US president.

The first ones targeted major US trading partners – China, Mexico and Canada. Trump said one reason for imposing those tariffs was to tackle the threat of drugs entering the US.

He first set them at 20% on China and 25% on Canada and Mexico, before later announcing some exemptions and delays.

A separate 25% tariff on cars and car parts from overseas, announced on Wednesday, also takes effect today.

• Trump's tariffs on China, EU and more, at a glance

Some Republican lawmakers in the US are backing a new bill that would force Congress to vote on any new tariffs before they can stay in place.

Under the proposal, any new tariffs would automatically end after 60 days unless Congress agrees to keep them.

The bill was originally introduced by Republican Chuck Grassley and Democrat Maria Cantwell. Yesterday, Republican senators Lisa Murkowski, Mitch McConnell, Jerry Moran and Thom Tillis signed on as co-sponsors.

A similar version is also expected to be introduced in the House by Republican Don Bacon.

Republicans currently hold the majority in the Senate, but it's not yet clear whether the bill will pass.

Image source, Reuters

An American importer of Chinese wine has told Reuters that new US tariffs on China will be "catastrophic" for her business.

Camden Hague was getting ready to launch her company, but says President Donald Trump's tariffs could throw everything off course.

"We're literally just about to launch this business and launch these wine makers here in America, and I'm worried that I won't be able to reorder because the math won't add up," she says.

She describes Trump's aim of creating more American jobs through tariffs as "an illusion".

"I'm trying to live the American dream. I'm a young American business owner. I found an amazing opportunity, and I'm trying to fulfil that in the market. And this is literally stopping that from happening."

Image source, Reuters

Apart from China, Taiwan is also on the list of "worst offenders" in Donald Trump's latest round of tariffs, and now faces a new 32% tariff.

There's been "a lot of disappointment, shock and anxiety" in Taiwan over the move, according to a political scientist.

Wen-Ti Sung tells BBC Radio 4's Today programme that exports currently make up "two-thirds of Taiwan's GDP", and the new tariffs "could mean as much as a 3.8% reduction" in that figure.

"One reason why Taiwan's trade to the US grew so much," he says, "was precisely because Trump 1.0 launched decoupling economically from China" and "Taiwan tried to be supportive... provided a lot more... to step up to fill the void".

He adds that the US had been on track to overtake China as Taiwan's biggest export market by the end of the year, but "now it's not going to happen".

China had been expecting the US to raise tariffs and is now stepping up its own in response, aiming for a “mutual destruction”, says Yu Jie, a senior research fellow at Chatham House.

Under the new measures, Chinese goods will face a 54% tariff from the US.

US President Donald Trump’s goal is to “cripple Chinese manufacturing”, Yu says, and the move will help “speed up the decoupling” between the two countries – though “consumers will have to bear the consequences”.

She also adds that more of Asia could become increasingly reliant on China, which might weaken the US’s “security influence” in the region.

Image source, Reuters

As US goods coming into China face retaliatory tariffs, their prices could go up.

Shoppers in Shanghai were asked if that might make them buy fewer American products.

"I used to buy some American products, but if the price increases, I might buy less," one man tells Reuters news agency.

Another woman says: "It depends on the situation. After all, right now, many Chinese electronic products are quite impressive, so I may consider changing to Japanese, Korean or domestic products."

Image source, Reuters

China's foreign ministry spokesman Guo Jiakun has shared a graphic on Facebook, external showing drops in the Dow Jones, S&P 500 and Nasdaq indexes, adding that "the market has spoken".

At the end of trading yesterday, the three indexes had fallen by 5.82%, 5.98% and 5.5% respectively.

"Now is the time for the US to stop doing the wrong things and resolve the differences with trading partners through equal-footed consultation," he says.

• Wondering why the Dow Jones, S&P 500 and Nasdaq were mentioned? We've got that explained

Xi was planting trees when government announced retaliatory tariffspublished at 10:58 British Summer Time 5 April

10:58 BST 5 April

Stephen McDonell
China correspondent

The Chinese government announced its response to the Trump administration’s latest huge tariff hike on the country’s exports in written form, at 18:00, on a Friday night, which is also a public holiday.

The timing could mean several things.

1. It wanted to somewhat bury the news at home in terms of the attention these measures might get, so as not to spook people too much.
2. It simply made the announcement as soon as its own calibrations had been finalised.
3. Beijing had given up on the hope of using a small window (prior to Trump’s 54% tariffs on Chinese goods taking effect next week) to do a deal so the government just decided to let it rip.

If it is the last of these, that is pretty bleak news for the global economy because it could mean that a deal between the world’s superpowers could be harder to reach than many had expected.

Another indicator of Xi Jinping’s attitude towards the Trump tariffs can be seen by what he was doing when they were announced.

Other governments may have been glued to the television, hoping to avoid the worst from Washington.

Not here.

Xi and the six other members of the Politburo Standing Committee were out planting trees to draw attention to the need to counter deforestation.

It presented a kind of calmness in the face of Donald Trump, giving off a vibe along the lines of: do your best Washington; this is China; we’re not interested in your crap.