Mr. Trump announced last week that vehicles and auto parts imported into the U.S. will be subject to a 25% tariff rate. The auto tariffs are expected to go into effect at midnight, just hours after the latest round of tariff announcements by the president Wednesday afternoon.

Federal Reserve Chair Jerome Powell said higher inflation and slower growth are more likely as more details emerge about President Trump's tariffs. CBS News contributor Javier E. David has more.

President Donald Trump said the United States will put at least a 10% tariff on all goods coming into the country, with much higher tariffs for some of America's closest trading partners, in a sweeping move that could revamp global trade and the U.S. economy.

Klarna, the specialty lending and online payments provider, has halted its planned initial public offering, the latest IPO casualty in the wake of the Trump administration’s sweeping tariff announcement.

Klarna, the specialty lending and online payments provider, has halted its planned initial public offering, the latest IPO casualty in the wake of Trump administration’s sweeping tariff announcement.

Wall Street suffers its worst day since 2020 but the White House tells investors to "trust in President Trump".

"Pre-orders for Nintendo Switch 2 in the US will not start April 9, 2025 in order to assess the potential impact," Nintendo said.

Small business owners are weighing in on the tariffs President Donald Trump unveiled against virtually all U.S. trading partners on Wednesday afternoon.