Groups representing U.S. farmers and food processors were mostly critical of President Donald Trump's announcement on Wednesday of sweeping tariffs on imports, which have sparked threats of retaliation and which analysts say will hike prices for consumers.

President Trump's 'Liberation Day' tariffs on countries around the world will hit food and consumer businesses particularly hard, say CEOs in the sector.

New tariffs announced by the Trump administration could significantly increase the cost of imported food products like coffee, chocolate, and cheese for American consumers. These changes aim to protect domestic production but are likely to cause price hikes and economic strain on household budgets and food industry margins.

Tariffs serve a role in protecting nascent industries, or in countries with limited state capacity. They may protect some strategic or politically powerful firms and workers from international competition.

China announced Friday that it will impose a 34% tariff on imports of all US products beginning April 10. The new tariff matches the rate of the US “reciprocal” tariff imposed by US President Trump this week.

President Trump was asked about the market's response after his tariff announcement, saying he believed it was "going well" and that the country is "going to boom."

From Italy to India, business owners and industry leaders are crunching numbers after U.S. President Donald Trump said he would impose a 10% baseline tariff on all imports to the United States and higher duties on some of the country's biggest trading partners.

Market futures started tumbling down immediately after President Donald Trump’s announcement of far-reaching tariffs.

Presented by National Council on Aging{beacon}Trump leans in on tariffs as stocks plummet President Trump’s new tariffs on dozens of countries exporting goods to the U.S. sent markets into a