Trump announced new tariffs on goods from all countries yesterday. Economists are worried about the domestic and worldwide impact this could cause. And, TikTok nears its sell-by date.

Shares tumbled in Europe and Asia and U.S. futures tumbled Thursday following U.S. President Donald Trump 's announcement of big increases in tariffs on imports of goods from around the world.

As President Trump opens a new front in his trade war, U.S. consumers are feeling shaky about the economy. And that's beginning to weigh on their spending, raising the threat of an economic slowdown.

President Trump said that he is standing up for skilled workers and farmers by slapping tariffs on imports, but farmers aren't happy.

Traditional allies, including the European Union, South Korea and Japan, face tariffs as high as 20%, while China confronts a 34% tariff on top of an existing 20% tax on imports to the U.S..

President Trump and top officials are considering a deal that would create a new U.S. entity and lease TikTok's algorithm to get around China export regulations.

The disappointing global deliveries of the company's electric car models come as CEO Elon Musk's role as President Trump's cost-cutting czar sparks a backlash among consumers.

Trump is expected to impose "reciprocal tariffs," which economists believe could be painful for U.S. consumers. And, the Trump administration says it mistakenly deported a man to El Salvador.

Trump said trading partners will face "reciprocal tariffs" ranging as high as 49% aimed at penalizing them for their trade barriers.

The U.S. has generally kept tariffs low, but a few domestic industries have long been protected by import taxes and other trade barriers. They offer clues about how Trump's new tariffs might work out.