US starts collecting Trump’s new 10% tariff, smashing global trade norms

News Snapshot:

A screen shows stock prices at the end of Friday's trading day on the floor of the New York Stock Exchange as financial markets react to US tariffs. Photograph: Shutterstock US customs agents began collecting president Donald Trump’s unilateral 10 per cent tariff on all imports from many countries on Saturday, with higher levies on goods from 57 larger trading partners due to start next week. The initial 10 per cent “baseline” tariff took effect at US seaports, airports and customs warehouses at 12.01am ET (5.01am Irish time), ushering in Trump’s full rejection of the post-second World War system of...