Olu Sonola, the head of U.S. economic research at Fitch Ratings, said the economy was just “starting to see” the effects of the tariffs that Mr. Trump announced in the spring, adding that with Mr. Trump’s newest duties now in place, Americans would “see that magnified” in coming months.

U.S. President Donald Trump’s new tariffs on U.S. imports from dozens of countries went into effect on Thursday as part of his administration’s efforts to reshape global trade. ____ This is a photo gallery curated by AP photo editors.

New sweeping "reciprocal" tariffs are now in force, with scores of new duties ranging from 10% to 50% on goods brought to the US from nearly 200 countries around the globe.