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News in Washington, I'm Giles Snyder.
President Trump is spending the weekend at Mar a Lago following a week in which global stock markets plummeted.
They declined further yesterday after China responded to President Trump's tariff with additional tariffs of 34% on US products.
Trump has pledged not to change course.
Here's NPR's Scott Horsley.
Part of the president's stated goal here is to encourage more domestic manufacturing,
and certainly tariffs along with low taxes and limited regulation can help to foster that.
But another thing factory owners look for is a stable, predictable business environment.
And as economist Ernie Tedeschi of the Yale Budget Lab says,
nothing about the last few weeks would suggest that's what they'll find in the United States right now.
A baseline tariff of 10% on all foreign imports to the US took effect overnight.
Companies that rely on cross border supply chains are relieved.
Mexico largely escaped President Trump's new tariffs.
Goods that comply with the U S. Mexico Trade agreement are exempt.
As Angela Kacherga, member station KTEP, reports.