
Donald Trump's 'Liberation Day' tariffs have gone into effect, with rising prices on a number of everyday items expected to start hitting the American consumer. Trump escalated his trade war - by announcing a 104 percent tariff on China would go into effect, after China refused to lift its retaliatory tariffs by Tuesday's deadline. He showed no willingness to back down, and was instead gloating about how other countries were coming to the U.S. to beg for a deal. Trump also announced another major tariff is on the horizon.