President Donald Trump threatened to upend much of the global economy’s structure and start wider trade battles on Wednesday when he announced a 10% baseline tax on imports from all countries and higher tariff rates on dozens of countries that have trade surpluses with the US.

In the video player above, Trump is live-streaming his remarks about the tariffs from the Rose Garden.

During his White House speech, Trump displayed a graphic that indicated the United States will impose a 34% tax on Chinese imports, a 20% tax on European Union imports, a 25% tax on South Korean imports, a 24% tax on Japanese imports, and a 32% tax on Taiwan imports.

When discussing a global trading system that the US helped create following World War II, the president used combative language, claiming that “our country has been looted, pillaged, raped, plundered” by other countries.

In order to impose the tariffs, which are anticipated to generate hundreds of billions of dollars in revenue annually, Trump proclaimed a national economic emergency. Although he has stated that the taxes will bring factory jobs back to the United States, his proposals run the risk of causing an abrupt slowdown in the economy since businesses and consumers may have to pay much more for clothing, cars, and other items.

During his White House comments, Trump said that taxpayers had been taken advantage of for over 50 years. “However, it will no longer occur.”

In an extraordinary attempt to both break and ultimately redefine America’s commercial relationship with the world, Trump used the 1977 International Emergency Powers Act to act without Congress and slap what he dubbed “reciprocal” tariffs on trade partners, fulfilling a key campaign pledge.

Since the administration expects other countries to reduce their tariffs and other trade barriers that it claims caused a $1.2 trillion trade imbalance last year, the president’s higher rates would affect foreign companies that sell more goods to the US than they purchase, meaning the tariffs may remain in place for a while.

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THIS NEWS UPDATE IS BREAKING. Below is the earlier story from AP.

President Donald Trump is scheduled to unleash a slew of what he refers to as reciprocal tariffs on both friends and foes on Wednesday, following weeks of White House fanfare and public fear.

The additional duties, which Trump has dubbed “Liberation Day,” are an attempt to punish foreign nations for what he claims are years of unfair trade practices and to strengthen American industry. However, according to the majority of economists, the action might upset long-standing partnerships and send the economy into a tailspin.

Despite the financial and political risk, the White House is projecting optimism.

On Tuesday, White House press secretary Karoline Leavitt declared that April 2, 2025, would be remembered as one of the most significant days in contemporary American history. According to her, the new tariffs will go into force right away.

Hours before the president’s planned afternoon statement, it was unclear exactly what Trump’s tariff intentions would entail. Wednesday’s trade saw a small increase in the S&P 500 stock index as investors sought greater clarity over his plan.

Similar recent pronouncements of 25% car import taxes, levies against China, Canada, and Mexico, and increased trade penalties on steel and aluminum are anticipated to be followed by the tariffs. In addition, Trump has levied tariffs on nations that purchase oil from Venezuela and intends to slap separate import duties on computer chips, timber, copper, and prescription medications.

The administration has not openly questioned its approach in response to any of the warning indicators of a collapsing stock market or a decline in consumer morale.

Central Valley water authorities claim that the Trump administration has ordered buyouts and firings at the federal agency that manages California’s water infrastructure, potentially endangering the agency’s capacity to provide water and control dams.

According to two Bureau of Reclamation employees with knowledge of the matter who were not permitted to talk publicly, Elon Musk’s Department of Government Efficiency, or DOGE, ordered the job layoffs.

According to one employee, the bureau, which has over 1,000 employees, will lay off 100 of them in California due to buyouts and terminations, which will eliminate almost 10% of its regional staff. However, the bureau has been directed to create plans to reduce its workforce by 40%, and more significant labor reductions are planned.

Karl Stock, the bureau’s regional director for the California-Great Basin Region, is among the staff members who have submitted applications for “deferred resignation” buyouts. Under the initiative, which Musk is spearheading, those accepting the buyouts are scheduled to depart in March and receive payment through September.

The program has been contested in court by unions that represent federal employees.

According to internal records obtained by The Times, among the jobs being cut are engineers, maintenance mechanics, and specialists in fish biology.

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According to one Bureau of Reclamation employee, “it’s going to have a significant impact on our operations.”

A request for comment from the Department of Government Efficiency was not answered. Politico had previously reported on the workforce reductions.

Leaders of California water districts are concerned about the agency’s job losses. In a letter sent to Interior Secretary Doug Burgum and acting Reclamation Commissioner David Palumbo on February 25, managers of 14 Central Valley water agencies cautioned that such significant cuts at the Bureau of Reclamation would “compromise its ability to fulfill its mission of delivering water and power.”

Municipal water suppliers like Contra Costa Water District and agricultural suppliers like Glenn Colusa Irrigation District are among the water organizations that have reported concerns. The Central Valley Project, a federally run network of over 20 dams and reservoirs that spans more than 400 miles and supplies water from the Sacramento-San Joaquin River Delta to farms and villages in the San Joaquin Valley, provides water to the agencies.

The Bureau of Reclamation “remains focused on providing essential water and hydropower to the American public across the 17 western states,” according to Sandy Day, the agency’s chief of public affairs.

On Monday, Governor Gavin Newsom unveiled a new state website that will track funding for homelessness initiatives and provide information on how each county is doing in addressing housing, behavioral health, and homelessness issues.

Additionally, the website displays which counties meet the requirements set forth by the state.

According to the website, the following communities in Los Angeles County are “out of compliance”: Artesia, Carson, Commerce, Compton, Hidden Hills, Irwindale, La Habra Heights, La Mirada, Palos Verdes Estates, San Marino, Vernon, West Covina, and Norwalk.

“Everyone in our country ought to have a place to call home. We anticipate quick fixes, not justifications, as we continue to assist our communities in combating homelessness. There is still more work to be done, even though we are happy with the strides many communities have made in addressing the homelessness epidemic, Newsom said in a statement.

Newsom unveiled the new website along with $118.7 million in funds to help municipalities deal with encampments by building new shelters and providing support. Additionally, three other grants totaling $56.4 million will be awarded to Los Angeles to handle three encampments close to the LA River, Hollywood Boulevard, and the 10 Freeway.

Newsom signed an executive order last July that permitted state and municipal officials to destroy homeless encampments, among other things.

Following a Supreme Court ruling in late June that gave officials the power to dismantle the camps and give tickets to individuals camping in public in Grants Pass, Oregon, the executive order was issued. At the time, some local officials praised the executive order, while others, such as Karen Bass, the mayor of Los Angeles, referred to the action as “unfortunate.”

Although Newsom cannot compel local officials to take action, his administration can exert pressure by denying counties and cities funding.

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Tensions between demonstrators and police seemed to increase as the «Day Without Immigrants» protests in downtown Los Angeles proceeded into the evening. On Monday night, authorities issued an unlawful assembly and dispersal order.

Before beginning their march, which increased to thousands of participants and stopped city streets for the most of the day, demonstrators opposing the Trump Administration’s immigration policy and mass deportations assembled at City Hall in downtown Los Angeles.

Police had previously barred on-ramps and access to the 101 expressway, in contrast to Sunday when many demonstrations opposing mass deportations congested streets and stopped the expressway.

Demonstrator Alexa Cedillo told KTLA, «It’s personal for me.» It goes without saying that a large portion of my family is immigrant and pays taxes. My parents put in a lot of effort and stood up for my brothers and me. I’m here to stand up for my family.

Authorities said the path of travel was northbound on Los Angeles to Cesar Chavez Avenue, and just after 5 p.m. Monday, the LAPD issued an order for protesters on Los Angeles Street between Aliso and Arcadia streets to disperse.

«Anyone who stays at Arcadia, Main, Spring, and Los Angeles could be arrested,» the LAPD continued.

As pyrotechnics erupted and bottles were thrown, officers in skirmish lines were spotted wearing riot gear and brandishing non-lethal weapons.

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Following President Donald Trump’s inauguration on Monday, Joe Biden and Kamala Harris traveled to Southern California.

Harris’ first stop in her home state was Gordy’s Garage, a repair shop in Altadena that is also home to a World Central Kitchen location. Harris and former Second Gentleman Doug Emhoff spoke with fire victims, some of whom had lost everything.

“The work of caring for complete strangers is being done by the volunteers who are there, some of whom lost their own homes,” said Harris.

For their “constant support, for being there on day one and being there for the community,” Harris said, according to Jason Collins, chief relief officer at the World Central Kitchen.

“We are happy to have her after everything they have been through.”

Harris then proceeded to fire station 12, which was the first to arrive at the scene of the Eaton Fire and ultimately found itself on the front lines of the battle.

“The heroes among us are truly exposed during times of crises. Therefore, we simply came out to express our gratitude to them, to the community, and to let them know that they are not alone and that we are all in this together,” Harris added.

L.A. County Fire Chief Anthony Marrone, who praised the crew for having only one day off since the fires started more than a week ago, spent a considerable amount of time talking with the former vice president.

In the meantime, when Trump was sworn in, the Bidens went to Santa Ynez, California.

“We are leaving office — we are not leaving the battle,” Biden told Joint Base Andrews staffers before to his departure.

Biden remarked, “I have been doing this for 50 years; you are the best set of folks.” “Serving as your president has been the greatest honor of my life.”

As Trump proceeded to address his supporters at Emancipation Hall, Biden left.

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President-elect Donald Trump pledged to make a huge splash on his first day back in office from the beginning of his campaign to recapture the White House.

Trump stated that he would utilize executive orders on “Day 1” to circumvent the regular legislative process and obtain significant changes to U.S. policy with a single stroke of his pen. He made this claim in a number of early videos detailing his ideas as well as in campaign speeches across the nation.

By signing an executive order alerting federal agencies that, “under the correct interpretation of the law,” children of undocumented immigrants do not automatically obtain citizenship by virtue of their birth on U.S. soil, he pledged to unilaterally overturn the long-standing constitutional guarantee of birthright citizenship.

“I will reverse the disastrous effects of Biden’s inflation,” he declared.

Conservative members of Congress have stated that the president-elect plans to act swiftly and forcefully — with their support — and media outlets have reported that over 100 executive orders are in the works. Trump’s promises have long thrilled Republicans and alarmed Democrats, but the excitement has grown ahead of his inauguration on Monday.

“A lot is conceivable, but not on ‘Day 1,'” said Bert Rockman, a professor of political science at Purdue University who is an expert on executive and presidential authority. “Beyond [Trump’s] statements, it is probably impossible to expect that many things would be done immediately.”

Another is the matter of legal challenges. California and other leftist states filed challenges throughout his first term, often preventing Trump from using executive orders to carry out his agenda. California Attorney General Rob Bonta says those states are already getting ready to fight Trump’s agenda again.

On a very cold Saturday afternoon, President Joe Biden presented the Presidential Medal of Freedom to 19 of the most well-known figures in politics, sports, entertainment, civil rights, LGBTQ+ activism, and science in the White House’s East Room.

Former Secretary of State Hillary Clinton received a standing ovation from the audience as she accepted her honor. Clinton was joined at the occasion by her husband, former President Bill Clinton, daughter Chelsea Clinton, and grandchildren. In a White House event, Democratic benefactor George Soros and actor-director Denzel Washington received the nation’s highest civilian accolade.

Four medals were awarded posthumously. They went to George W. Romney, who was both Michigan governor and secretary of housing and urban development; former Attorney General and Senator Robert F. Kennedy; Ash Carter, a former secretary of defense; and Fannie Lou Hamer, who founded the Mississippi Freedom Democratic Party and laid the groundwork for the 1965 Voting Rights Act.

Major benefactors have received the prize include Spanish-American chef José Andrés, whose World Central Kitchen charity has become one of the world’s most well-known food assistance organizations, and Bono, the frontman for rock band U2 and a social justice crusader.

Professional soccer player Lionel Messi, who did not attend the event; retired Los Angeles Lakers basketball legend and businessman Earvin “Magic” Johnson; actor Michael J. Fox, who is an outspoken advocate for Parkinson’s disease research and development; and William Sanford Nye, known to generations of students as “Bill Nye the Science Guy.”

Other honorees include conservationist Jane Goodall, longstanding Vogue Magazine editor-in-chief Anna Wintour, American fashion designer Ralph Lauren, American Film Institute founder George Stevens Jr., and entrepreneur.