BySara Dorn

BySara Dorn,
Forbes Staff.
President Donald Trump announced Wednesday the U.S. would impose “reciprocal tariffs” on its trade partners based on calculations of the total cost of protective barriers and taxes they charge the U.S.—hitting China with an additional 34% tax on top of the 20% levy already imposed.
President Donald Trump speaks during a “Make America Wealthy Again” trade announcement event in the … More Rose Garden at the White House on April 2, 2025 in Washington, DC. Touting the event as “Liberation Day”, Trump is expected to announce additional tariffs targeting goods imported to the U.S. (Photo by Andrew Harnik/Getty Images)
Trump, in a highly anticipated Rose Garden address, announced the individual tariffs are a “discounted” rate based on “the combined rate of all their tariffs, non-monetary barriers and other forms of cheating.”
Trump said the rates were about half of the total charges each country imposes against the U.S., calling his approach “kind.”
Chinese products will be among the hardest hit, with the 34% tax announced Wednesday coming on top of the 20% tariffs already imposed against Chinese imports, Treasury Secretary Scott Bessent said.
Goods from the European Union will be taxed at 20%, Vietnam at 46%, Japan at 24%, and imports from India at 26%, according to a chart Trump held while making the announcement—with some rates significantly higher than the across-the-board 20% tax Trump had proposed during his campaign.
Every country will have a baseline tariff of 10%, which is included in the numbers on the chart Trump used to debut the rates.
Canada and Mexico were not included in the chart Trump held and they are not be subject to the 10% baseline tax, though Trump did not address whether the 25% tariff on most Canadian and Mexican imports would take effect this week, as previously planned after he delayed them for about a month.
The president also confirmed a 25% tariff on all imported autos would take effect at midnight.
As of 4:45 p.m., S&P 500 futures had dropped nearly 2%, Nasdaq 100 futures were down 2.5% and Dow Jones Industrial Average futures fell nearly 1%.
Immediately, White House press secretary Karoline Leavitt told reporters Tuesday. A 25% tariff on imported car parts is scheduled for no later than May 3.
A 25% tariff on all products from Canada and Mexico not subject to the U.S.-Mexico-Canada trade agreement, a 10% additional tariff on Chinese imports and a 25% tariff on all steel and aluminum imports.
Few details were known about Trump’s plans headed into Wednesday’s announcement, which he was “perfecting” just hours earlier, Leavitt told reporters Tuesday. Trump, on the campaign trail, had repeatedly floated a 20% universal tariff on all goods imported to the U.S., though he’s suggested more recently he would tax goods from other countries according to the levies they impose on U.S. products and has also proposed sector-specific tariffs on industries such as pharmaceuticals, lumber and semiconductors. Bessent said last month the tariffs would target the “dirty 15,” or the 15% of countries that account for the bulk of trade with the U.S. Trump was also expected to announce when he’d trigger 25% tariffs on all imports from Canada and Mexico that he threatened in March, then delayed for a month for products subject to the U.S.-Mexico-Canada trade agreement, though he did not mention the paused tariffs in his Wednesday announcement.
Here’s What To Know About ‘Liberation Day’—From Announcement Time To What Trump May Target (Forbes)
Forbes Recession Tracker: Recession Odds Spike As Trump’s Tariff ‘Liberation Day’ Approaches (Forbes)

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Updated: June 01, 2025 at 9:35PM EDT
Published: June 01, 2025 at 5:46PM EDT
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Local people have told the BBC how the flood waters swept through their town
The official death toll after deadly floods hit the Nigerian town of Mokwa on Thursday has risen to more than 200, officials say.
Another 500 people are still missing in the town in the central Niger State however, local official Musa Kimboku told the BBC that rescue efforts had ceased because authorities no longer believe anyone could still be found alive.
The floods, said to be worst in the area for 60 years, swept through the Mokwa districts of Tiffin Maza and Anguwan Hausawa after torrential rains.
In an effort to prevent disease in the area, authorities will soon start to dig out corpses buried underground, Mokwa's district head Muhammadu Aliyu said.
Recounting scenes of catastrophe, local residents told the BBC that they saw their homes and family members get washed away.
One man, Adamu Yusuf, lost his wife and newborn baby.
"I watched helplessly as water washed away my family. I survived because I could swim," he told the BBC.
Another resident, Saliu Sulaiman, said the floods had left him homeless and destroyed some of his cash business profits.
"I lost at least $1,500 to the floods. It was the proceeds from the sale of my farm produce the previous day. I contemplated going back into the room to get it, but the pressure of the water scared me."
Some local residents have said that the flooding was so devastating because a nearby dam had burst, however the authorities have not confirmed this.
Residents said the pressure of the floodwater was so intense that bodies had been washed up in the town of Rabba, at least an hour's drive from Mokwa.
Mokwa's Deputy Vice-Chairman Musa Kimboku said they had told neighbouring villages to bury "any corpse that they find."
District head Mr Aliyu said some bodies were unrecoverable because they had gone "through the River Niger".
On Sunday, the National Emergency Management Agency (Nema) announced it had started the process of providing relief packages to people affected.
The agency added in a post on Facebook, external that roads and bridges were also affected by the flood, which has had a knock-on effect on the local economy and traffic.
The Nigerian Red Cross also released a statement on Friday, external saying the floods had caused "significant loss of life and widespread distress".
Floods are not uncommon during the Nigerian rainy season, which lasts from April until October.
In 2024, Nigeria experienced flooding from heavy rain which caused deaths and drove people from their homes.
There was also severe flooding in 2022, when more than 600 people died and 1.3 million were displaced.

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Go to BBCAfrica.com, external for more news from the African continent.

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Russia and Ukraine have agreed a prisoner swap after peace talks in Istanbul, with Vladimir Putin’s negotiator saying Moscow suggested a short ceasefire in certain areas. Follow the latest here and submit a question for our Q&A with defence and security analyst Michael Clarke below.
Monday 2 June 2025 20:02, UK
Security and defence analyst Professor Michael Clarke will be answering your questions on the war in Ukraine this Wednesday.
You can submit a question via the form at the top of this page.
Clarke takes a look at them each week and offers his insights on the likes of peace negotiations, the latest from the battlefield, or Donald Trump’s relationship with Vladimir Putin.
Catch up on last week’s Q&A below…
We’ll be back tomorrow with more updates on the war in Ukraine.
Before we go, here is a look at the key lines from today: 
Back here in the UK, Defence Secretary John Healey has pledged to “create a British Army that is 10 times more lethal” through software and long-range weapons.
Artificial intelligence, drones and a £1bn investment in homeland missile defence are all part of the plans to keep the UK safe in the face of threats from Vladimir Putin’s Russia and the rise of China. 
Looking at the threat the UK is under, General Lord Richard Dannatt has told Sky’s Johnathan Samuels the “principle threat” comes from Russia.
“The Ukrainians have done a fantastic job in containing Russia over the last few years,” he said.
“There will probably be a ceasefire of some sort in the next one to three months.
“It will probably take the Russians about two years to reset themselves and put themselves in a position where they can become aggressive elsewhere again.
“I think this will tempt Vladimir Putin to want to test the strength of NATO and test whether Article 5 still holds true – if an attack on one is an attack on all members.”
Lord Dannatt also noted that  Putin has always wanted to “fragment the cohesion of the West and NATO”.
“He would love to rupture that,” he added.
There is very much a sense of Groundhog Day in the latest peace talks, says Moscow correspondent Ivor Bennett.
This time they were even shorter than the last round, taking little over an hour.
“The only concrete thing to come of it was another prisoner swap.”
A ceasefire for a couple of days to collect and exchange dead soldiers was also proposed by the Russian side.
“On a personal level, for the soldiers involved in any prisoner exchange, and also for the families of the dead soldiers who are due to be returned, this is obviously a significant moment,” says Bennett.
“But these are the easy things to agree on because they give a win for each side.
“They’re like-for-like, but it doesn’t bring the two sides closer together, which was very much on display today.”
There was “no love lost” at the negotiating table.
Ukraine has proposed holding more talks before the end of the month.
“The talk is one of peace, but the mood is very much one of war.”
Russia does not want a ceasefire and new sanctions are needed now to force it to pursue peace, the chief of staff to Volodymyr Zelenskyy has said.
Andriy Yermak said on X that the Russians were “doing everything to not cease firing and continue the war” as he urged for more sanctions.
Here is what he had to say hours after the conclusion of peace talks in Istanbul…
White House press secretary Karoline Leavitt has been taking questions from reporters in the last few moments.
Asked about Donald Trump’s reaction to Ukraine’s drone attack on Russia on Sunday, she said: “The reaction is this war needs to come to an end.
“This war has been brutal from both sides and too many people have died.
“The president wants this war to end at the negotiating table and he has made that clear to both leaders both publicly and privately.”
Ukraine and Russia have agreed to exchange 1,000 prisoners each, Volodymyr Zelenskyy has said.
Speaking in a new briefing, the Ukrainian leader said each side would give the other lists of people they want included in a planned prisoner of war swap next week.
There was also the possibility of swapping an additional 200 prisoners.
He said the sides agreed to return the remains of killed service personnel, but this would take careful preparation.
Zelenskyy also said Ukrainian negotiators gave their Russian counterparts a list of nearly 400 children it wanted Russia to return home to Ukraine, but that the Russian delegation agreed to work on returning only 10 of them.
He also referred to a Ukrainian intelligence operation on Sunday, codenamed “Spider’s Web”, in which drones smuggled inside wooden sheds attacked Russian military airfields, and said the operation had helped to restore partners’ confidence that Ukraine is able to continue fighting Russia.
Russian negotiators have handed Ukraine two proposed options for a ceasefire, Russian state media reports.
RIA news agency says the first would require Ukraine to commence a complete withdrawal of all its forces from four regions of the country that Russia has claimed as its own territory – they are the Russian-controlled regions in Donetsk, Luhansk, Kherson and Zaporizhzhia.
The second option would be a “package” deal containing a number of conditions, RIA says.
Russia’s TASS news agency says the complete withdrawal of the Ukraine’s armed forces from the Russian-controlled territory “must be carried out within 30 days of the ceasefire”.
Also in Russia’s memorandum is the demand that there is international recognition of Crimea, Donbass and Novorossiya as part of Russia, TASS says.
The Kremlin also demands that Ukraine remains “neutral”.
During a news conference today, Ukraine’s deputy foreign minister, Serhi Kyslytsya, said the Russian side “continue to reject the notion of an unconditional ceasefire”.
“The very unconditional ceasefire that the American president himself offered a while ago,” he said.
Meanwhile, defence minister Rustem Umerov, who led the Ukrainian delegation, told reporters that Kyiv officials would need a week to review the Russian memorandum and decide on a response.
“Only today, the Russian delegation handed over their documentation to our delegation,” he said.
Ukraine proposed further talks on a date between 20-30 June.
An unconditional ceasefire is one of the key terms laid out by Volodymyr Zelenskyy.
You can watch a clip here…
By Sophia Massam, junior digital investigations journalist  
In this image below, Ukraine’s security service head is looking at satellite images of the Russian bases hit on Sunday. 
The picture of Lieutenant General Vasyl Maliuk, head of the Security Service of Ukraine, was shared on X by the Ukrainian Security Service (SBU). The satellite images appear to have been framed. 
In the post, Ukraine claims that “34% of strategic cruise missile carriers at the main airfields of the Russian Federation were hit”.
Sky News has matched the locations of four sites struck by Ukrainian drones in Sunday’s large-scale attack deep inside Russia. 
One of the site’s is the Olenya airbase in the Murmansk region and the other is the Diaghilev airbase in the Ryazan region.
The Ivanovo Severnyy airbase in the Ivanovo region and the Belaya airbase in the Irkutsk region were also hit.
These four were confirmed to have been struck by an SBU press release. 
The final airbase was not mentioned in the press release, and appears to be the Ukrainka airbase in the far east of Russia. 
Volodymyr Zelenskyy has warned against Vladimir Putin decided whether Ukraine is able to join NATO.
In a post on X, the Ukrainian leader stressed that Putin “must get nothing that would justify his aggression”.
“Any reward would only show him that war pays off,” he said. 
He confirmed that both the Ukraine and Russian delegation had exchanged documents through the Turkish side, and they were also preparing a new release of prisoners of war.
Touching on the possibility of Ukraine joining NATO, he said this cannot be dictated by Putin, adding: “Decisions for Europe, not for Putin.”
Here is what Zelenskyy has said this afternoon…
Russia has repeatedly said Ukraine must remain “neutral” and NATO membership is a red line for them.
 But Zelenskyy has been pushing for Ukraine to join the defence alliance and even said he is willing to give up his presidency for it.
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It’s known as “Golf’s Longest Day,” and it’s here: final qualifying for the 2025 U.S. Open.
Three stages are already in the books, and there are 10 more qualifiers in eight states and Canada holding competitions that will help round out the field for Oakmont.
The three final qualifiers that are already done were held in Dallas, Japan and England. The men’s NCAA champ, Michael La Sasso, earned his spot last week. Winners of PGA Tour events ahead of the U.S. Open (which is now just this week’s RBC Canadian Open), should they not already be in the Open, will also get a spot.
The rest of the U.S. Open tee sheet will be filled from those lucky few from each of the final qualifying locations.
There will be 47 golfers advancing from Monday’s action. That is in addition to the 18 golfers (scroll down a tad to see those names) who previously advanced out of three qualifying sites back on May 19.
The Monday qualifiers had a combined 744 names entered, but many golfers withdrew before some of them started. Others withdrew during the competition. There were several other no-shows. So it goes at qualifying.
You can find links to all the individual scoring here from the final qualifying sites. You can scroll further down to see more specific links to each qualifier as well as notables playing in each.
Each of the final qualifying sites featured 36 holes with the field size and number of qualifiers from each varying depending on the numbers. The USGA will announce the exact number of advancing qualifiers from each location Monday morning.
Russell shot a 68 in the first 18 holes at Duke University and is tied with five others at 2 under during his second 18. It’s a crowded leaderboard where 72 golfers are vying for one of seven spots.
Hoofing it to try to qualify for the U.S. Open? That’s what Max Homa is doing Monday.
Stellar start for 2026 Georgia commit Mason Howell, who is 7 under in his first 14 holes and leading by two at Piedmont Driving Club.
86 players for seven spots
43 players for three spots
100 players for 8 spots
Here’s that link for the scores.
Canoe Brook Country Club (North & South Courses), Summit, New Jersey | Scores
Duke University Golf Club, Durham, North Carolina | Scores
Emerald Dunes Golf Club, West Palm Beach, Florida | Scores
Kinsale Golf and Fitness Club/The Lakes Golf and Country Club, Columbus, Ohio | Scores
Lambton Golf & Country Club, York, Ontario, Canada | Scores
Piedmont Driving Club, Atlanta, Georgia | Scores
Springfield Country Club, Springfield, Ohio | Scores
Valencia Country Club, Valencia, California | Scores
Wine Valley Golf Club, Walla Walla, Washington | Scores
Woodmont Country Club (North Course), Rockville, Maryland | Scores

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