WATCH LIVE: President Trump set to announce new round of tariffs

What to Know

• President Donald Trump rolled out new trade barriers on Wednesday, including a 25% tariff on all foreign-made automobiles
• “Taxpayers have been ripped off for more than 50 years,” Trump said in remarks at the White House. “But it is not going to happen anymore.”
• Rep. Suzan DelBene, D-Wash., said the tariffs are “part of the chaos and dysfunction” being generated across the Trump administration.
• Markets plunged in after-hours trading, as Trump held a poster up listing various tariff levels for U.S. trading partners