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WASHINGTON (AP) — President Donald Trump is placing steep new tariffs on virtually all U.S. trading partners, stoking fears of rising prices for consumers and deepening trade wars.

The tariffs hit allies and rivals alike. The Republican president is placing a 10% baseline tax on trading partners around the globe and is setting heftier levies on major partners with which the U.S. has a trade deficit like China, the European Union and Japan.

While Trump had suggested the tariffs were a negotiating tool to lower the taxes paid on U.S. exports, he described his plan as one that would boost domestic manufacturing and raise federal revenues. It has unsettled global financial markets and sparked concerns about inflation and slowing global growth.

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NEWARK, N.J. (AP) — Creating and sharing deceptive media made with artificial intelligence is now a crime in New Jersey and open to lawsuits under a new state law.

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Democratic Gov. Phil Murphy signed legislation Wednesday making the creation and dissemination of so-called deceptive deepfake media a crime punishable by up to five years in prison, and establishing a basis for lawsuits against perpetrators.

New Jersey joins a growing list of states enacting measures taking aim at media created using generative AI. At least 20 states have passed similar legislation that targets such media involving elections. read more

By CHRISTOPHER RUGABER, AP Economics Writer

WASHINGTON (AP) — President Donald Trump’s expansive new tariffs flips on its head a decades-long global trend of lower trade barriers and is likely, economists say, to raise prices for Americans by thousands of dollars each year while sharply slowing the U.S. economy.

The White House is gambling that other countries will also suffer enough pain that they will open up their economies to more American exports, leading to negotiations that would reduce the tariffs imposed Wednesday. Or, the White House hopes, more companies — both American and foreign — will reverse their moves toward global supply chains and bring more production to the United States to avoid higher import taxes.

But a key question for the Trump administration will be how Americans react to the tariffs. If prices rise noticeably and jobs are lost, voters could turn against the duties and make it harder to keep them in place for the length of time needed to encourage companies to return to the U.S. read more

By ROB GILLIES

TORONTO (AP) — Prime Minister Mark Carney said Thursday that Canada will match U.S. President Donald Trump’s 25% auto tariffs with a tariff on vehicles imported from the United States.

Trump’s previously announced 25% tariffs on auto imports took effect Thursday. The prime minister said he told Trump last week in a phone call that he would be retaliating for those tariffs.

“We take these measures reluctantly. And we take them in ways that is intended and will cause maximum impact in the United States and minimum impact in Canada,” Carney said.

Carney said Canada won’t put tariffs on auto parts as Trump has done, because he said Canadians know the benefits of the integrated auto sector. The parts can go back and forth across the Canada-U.S. border several times before being fully assembled in Ontario or Michigan.

Carney said Canadians are already seeing the impact.

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By KEVIN FREKING

WASHINGTON (AP) — An obscure but consequential bookkeeping matter has become the latest flashpoint in Congress as Republicans labor to enact President Donald Trump’s sprawling tax cut agenda.

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Senate Republicans are looking to change how extending many of Trump’s 2017 tax cuts would be scored when it comes to future federal deficits. The Congressional Budget Office has projected that extending the cuts would increase deficits by nearly $4 trillion over the coming decade.

Democrats accuse Republicans of violating Senate norms with the move. Senate Democratic leader Chuck Schumer, D-N.Y., says Republicans are going “nuclear,” blowing up the institution’s rules. read more