President Trump has played down the shock impact of his tariff shift on markets, which kept spiraling downward on Friday as fears for the global economy grew. US trading partners have vowed to retaliate after Trump ended months of suspense on Wednesday by revealing broad reciprocal duties on all countries, in what he has referred to as 'Liberation Day.' On Friday, China announced it will impose countermeasures against the US starting April 10, including a 34% tariff on US goods. Trump's administration is imposing a baseline tariff of 10% across all countries, upping those duties for various partners whom he described as bad actors. The moves are the latest escalation of a trade war that includes plans to impose 25% tariffs on all foreign-made vehicles this week. Here's a rundown of other tariff-related moves Trump has made in his first months in office. Steel and aluminum duties: A 25% US tariff on imports of steel and aluminum from all countries took effect on Wednesday, March 12. Levies on Canada and Mexico: The US paused tariffs on goods and services compliant with the United States-Mexico-Canada Agreement (USMCA) until April 2. That agreement remains in effect, the White House said Wednesday. Venezuela: Trump said the US will impose a 'secondary tariff' on Venezuela, to take effect on April 2 — any country that buys oil or gas from Venezuela would face a 25% tariff when trading with the US. The moves are the latest escalation of a trade war that includes plans to impose 25% tariffs on all foreign-made vehicles this week.

Trump tariffs live updates: China retaliates with 34% tariff as markets suffer from fallout

President Trump announced broad reciprocal duties on all countries, known as 'Liberation Day,' which led to a 34% tariff on US goods by China starting April 10. Trump's administration also imposed a 25% tariff on imports of steel and aluminum from all countries, effective March 12. The US paused tariffs on goods and services compliant with the USMCA until April 2. Venezuela faces a 'secondary tariff' of 25% on oil and gas purchases, effective April 2. These moves are part of an ongoing trade war that includes plans for 25% tariffs on foreign-made vehicles.