President Donald Trump's "Liberation Day" appeared set to end North American free trade and Mexico's privileged access to the U.S.

On the day stock markets cratered around the world after President Donald Trump announced sweeping import tariffs, Claudia Sheinbaum was smiling. President of

President Donald Trump unveiled sweeping new tariffs on Wednesday, which the White House dubbed "Liberation Day." "This is one of the most important days in my opinion in American history," Trump said during a press conference at the Rose Garden,

For decades, global commerce abided by tariff rates agreed to by the U.S. and 122 other countries during the 1980s and 1990s. On Wednesday, Trump detonated that arrangement, saying that other countries had exploited the system and “ripped off’’ the United States for years, causing its once-mighty manufacturing base to shrink.

U.S. financial markets responded with significant losses after President Donald Trump unveiled his tariff plans.