Hello. Following US President Donald Trump’s announcement of global tariffs, our correspondents unpack what the import taxes may mean for the US and the rest of the world. In France, Paris correspondent Andrew Harding questions whether the far right will take revenge after Marine Le Pen was blocked from running in the next election, and video from Sydney captures the destruction caused by huge 5.5m waves.

TOP OF THE AGENDA

Trump's tariffs create 'biggest change to global trade in 100 years'

Donald Trump has imposed a universal 10% tariff on all imports into the US, with even higher rates for what he calls the "worst offenders". Credit: Reuters

Donald Trump is staking his presidency on his belief that tariffs are an effective means of boosting the US economy, writes North America correspondent Anthony Zurcher. Yet, economists warn that these massive import taxes – including 53% on China, 20% on the EU, and a 10% baseline on all nations – will be passed along to American consumers, raising prices and threatening a global recession. This, writes our economics editor Faisal Islam, is the biggest change to global trade in a century. There will also be tariffs of 25% levied on all cars made outside of the US. European stock markets were down on opening this morning.

• Three things to know: Business reporter Michelle Fleury explains what the import taxes mean for the US and countries around the world.

• Key moments: Watch as Donald Trump pledges to "make America wealthy again" and talks his Rose Garden audience through his tariffs board. 

• At a glance: We unpack what you need to know about the tariffs, including the countries that will be hardest hit.

WORLD HEADLINES

BEYOND THE HEADLINES

Will France's far right seek revenge for Marine Le Pen?

An opinion poll carried out a day before the court decision predicted that Le Pen would secure up to 37% of votes in the 2027 presidential election. Credit: BBC

French far right leader Marine Le Pen has been barred from running for office for five years, excluding her from the 2027 presidential election. Paris correspondent Andrew Harding takes a look at what might be next for the far right and Le Pen's party, the National Rally, and whether they will now seek revenge by attempting to bring down the fragile coalition government.