Bonds Sell Off as New U.S. Tariffs Upend Global Trade

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• 00:03

  President Trump cheers on his trade agenda as reciprocal tariffs kick in.

• 00:08

  And I really think we're helped a lot by the tariff situation that's going on, which is a good situation.

• 00:13

  Not a bet.

• 00:14

  It's great.

• 00:14

  It's going to be legendary.

• 00:16

  You watch.

• 00:16

  We'll look at how America's trade partners, central banks,

• 00:20

  and investors are responding as U.S. treasuries sell off, plus the rest of the day's headlines.

• 00:25

  It's Wednesday, April 9th.

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  I'm Luke Vargas for The Wall Street Journal, and here is the AM edition of What's News,

• 00:32

  the top headlines and business stories moving your world today.

• 00:39

  Reciprocal U.S. tariffs on nearly 100 countries are officially in effect.

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  As of a minute after midnight, U.S. duties now stand at their highest level since before World War II,

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  with the likes of China now facing tariffs of 104 percent.

• 00:55

  No region of the world is being spared, though many Southeast Asian nations are hardest hit.

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  With Vietnam, Laos, and Cambodia on the receiving end of tariff hikes north of 45 percent,

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  moves likely to upend supply chains, dent growth forecasts,

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  and ripple through to consumers in the form of higher prices.

• 01:14

  And on such a consequential day for global trade,

• 01:16

  it's fitting we've got a pair of journal reporters with us this morning from opposite ends of the world.

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