Faisal Islam
Economics editor

President Donald Trump has built another wall, and he thinks everyone else is going to pay for it.

But his decision to impose sweeping tariffs of at least 10% on almost every product that enters the US is essentially a wall designed to keep work and jobs within it, rather than immigrants out.

The height of this wall needs to be put in historical context.

What occurred this week was not just the US starting a global trade war, or sparking a rout in stock markets. It was the world’s hyper power firmly turning its back on the globalisation process it had championed, and from which it handsomely profited in recent decades.

And in so doing, using the equation that underpinned his grand tariff reveal on the Rose Garden’s lawns, the White House also turned its back on some fundamentals of both conventional economics and diplomacy.

• Read more in the latest BBC InDepth piece

Elon Musk might be hoping for a “zero-tariff situation”, but the reality is the EU is set to face a new 20% US tariff from 9 April.

A 10% “baseline” tariff on all US imports came into effect yesterday, but the EU is one of several countries and territories that will be hit with extra, custom tariffs.

White House officials describe these as specific “reciprocal” tariffs on what it calls the “worst offenders”.

This includes countries charge higher tariffs on US goods, impose “non-tariff” barriers to US trade or have otherwise acted in ways, the White House feels, undermine American economic goals.

Here’s a list of the total tariffs some countries are facing:

Thousands of protesters across the US took to the streets yesterday in the biggest nationwide show of opposition since Donald Trump returned to office in January.

They voiced a range of concerns about his agenda, with some carrying signs calling for an end to tariffs.

Elon Musk, one of Trump’s closest advisers, has said he hoped for a “zero-tariff situation” between the US and Europe.

“I hope it is agreed that both Europe and the United States should move ideally, in my view, to a zero-tariff situation, effectively creating a free-trade zone between Europe and North America,” he said on Saturday in a live discussion with Italy’s hard-line deputy prime minister Matteo Salvini.

“And more freedom for people to move between Europe and North America, if they wish,” he continued, adding, “that has certainly been my advice to the president”.

It appeared to be Musk’s first remarks about the tariff rollout.

He also criticised Europe for its “stifling” regulations, saying they made it a bad place to start a new business.

Donald Trump’s 10% baseline tariff came into effect yesterday, hitting the UK along with many other countries.

In response, Prime Minister Keir Starmer says he’ll keep pushing for an economic deal with the US to avoid some of the tariffs.

But he also suggests the government could step in to protect British interests.

“We stand ready to use industrial policy to help shelter British business from the storm,” he writes in the Sunday Telegraph, external.

“Some people may feel uncomfortable about this – the idea the state should intervene directly to shape the market has often been derided,” he says.

“But we simply cannot cling on to old sentiments when the world is turning this fast.”

He also says the UK will work to strengthen alliances and cut trade barriers with other countries, and that the government will “turbocharge plans” to make Britain less vulnerable to “global shocks” in the market.

• Read more about Starmer’s latest response to Trump’s tariffs

It’s been a dizzying few days since Donald Trump announced sweeping new global tariffs.

In his “Liberation Day” speech, Trump said the tariffs would help bring manufacturing back to the US and boost tax revenues.

Here’s what’s happened since:

• Trump told Americans to “hang tough” after a 10% baseline tariff kicked in yesterday on US imports from countries including the UK, Brazil and the United Arab Emirates
• Anti-Trump protests spread across the US on Saturday, with demonstrators criticising his trade policy and wider approach to government
• Our North America correspondent Peter Bowes says it was the biggest day of anti-Trump protests since his return to the White House
• Meanwhile, China urged the US to “stop using tariffs as a weapon”, while the British prime minister and French president agreed “nothing should be off the table” in their response
• The tariffs are also affecting cars – Jaguar Land Rover is pausing shipments, while Nissan might move some of its production to the US
• Markets tumbled on Friday, but some Trump supporters say the tariffs are “worth it”

Welcome to our live coverage as we continue to follow the fallout from Trump’s announcement of a wave of global tariffs.

Writing in the Sunday Telegraph, external, UK Prime Minister Keir Starmer says he is prepared to use industrial policy to “shelter British business from the storm”.

This comes as companies rush to respond to new tariffs, including luxury car maker Jaguar Land Rover (JLR), which has confirmed it will pause shipments to the US after the White House introduced a 25% tariff on all car imports.

Meanwhile, the US president struck a defiant tone, telling Americans to “hang tough” in the face of tariff pain, adding: “The end result will be historic.”

But his comments did little to calm the crowds of protesters, who’ve gathered in cities across the US in the biggest nationwide show of opposition since the president took office in January.

We’ll keep bringing you all the latest updates and reaction throughout the day.