Good morning from The Financial Times.
Today is Thursday, April 3rd, and this is your FT News briefing.
The U.S. trade war is in full effect, and Tesla's share price had a really strange day yesterday.
Plus, what's next for France's far right now that Marine Le Pen has been banned from elections?
This is sort of an earthquake which really will potentially shake up French politics in a way few people had envisaged.
I'm Mark Filipino, and here's the news you need to start your day.
The U.S. is going to impose big reciprocal tariffs on its major trading partners.
That includes a further 34% levy on China and 20% on the EU.
Chronic trade deficits are no longer merely an economic problem.
They're a national emergency that threatens our security and our very way of life.
President Donald Trump made the announcement yesterday.
He also said the U.S. would impose a 10% tariff on all countries, including the UK.
Plus, there will be a 25% tariff on all foreign-made cars.
We're going to be wealthy as a country because they've taken so much of our wealth away from us.
We're not going to let that happen.
Trump made the announcement after the U.S. trading day.
Markets had been bracing for the new levies, but they still sent U.S. stock futures falling.
It's been kind of a weird week for Elon Musk.
The judicial candidate that Musk spent millions of dollars backing lost his state Supreme Court election in Wisconsin on Tuesday.
And then yesterday, his company Tesla reported a big miss on deliveries.