U.S. President Donald Trump's wide-ranging tariffs are expected to go into effect at 12:01 am ET, Thursday, just as the economic fallout of the president's months-long tariff threats creates visible damage to the U.

Trump’s renewed tariff push aligns with his long-standing claim that foreign governments impose unfair trade barriers on U.S. products. His “reciprocal tariff” strategy aims to match or exceed those tariffs on goods entering the U.