President Trump makes good on his pledge to penalize foreign carmakers announcing plans for 25% tariffs on global imports.

Plus, European leaders move to build a Ukraine's support force without the U.S.

And the used phone market takes off.

If you buy a secondhand phone, you pay a third of the price, maybe half the U.S., and the used phone market takes off. If you buy a second-hand phone, you pay a third of the price, maybe half the price.

For a phone, that's pretty similar to a brand-new one.

It's Thursday, March 27th.

I'm Luke Vargas for the Wall Street Journal, and here is the AM edition of What's News,

the top headlines and business stories moving your world today.

Global reaction is pouring in after President Trump yesterday evening announced that the U.S.

would impose 25% tariffs on all automotive imports starting April 3rd. The announcement appeared to dispel any chance of an

exemption for countries like Mexico and Canada, which have a free trade agreement with the U.S.,

and would be added on top of 25 percent tariffs on goods from those countries that Trump had

already imposed. Canadian Prime Minister Mark Carney was quick to respond,

invoking the interests of the country's unionized auto workers

and its bilateral trade with the U.S.

And this is a direct attack, to be clear,

a direct attack on the very workers that I stood in front of,

uniform workers I stood in front of, uniform workers, I stood in front of this morning

at the Ambassador Bridge. A bridge that is a symbol and a reality up until now of the tight ties

between our two countries, ties of kinship, ties of commerce, ties that are in the process of being broken.

Carney pledged to respond to the U.S. tariffs but said he'd first wait to see the details

of Trump's executive order. The province of Ontario is home to the bulk of Canada's auto industry,

...