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President Trump cheers on his trade agenda as reciprocal tariffs kick in.

And I really think we're helped a lot by the tariff situation that's going on, which is a good situation, not a bad.

It's great. It's going to be legendary. You watch.

We'll look at how America's trade partner, central banks, and investors are responding as U.S. treasuries sell off, plus the rest of the day's headlines.

It's Wednesday, April 9th. 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.

Reciprocal U.S. tariffs on nearly 100 countries are officially in effect.

As of a minute after midnight, U.S. duties now stand at their highest level since before World

War II, with the likes of China now facing tariffs of 104%.

No region of the world is being spared, though many Southeast Asian nations are

hardest hit, with Vietnam, Laos, and Cambodia on the receiving end of tariff hikes north of 45 percent

moves likely to upend supply chains, dent growth forecasts, and ripple through to consumers

in the form of higher prices. And on such a

consequential day for global trade, it's fitting. We've got a pair of journal reporters with us this

morning from opposite ends of the world. Kim McCraill is in Brussels and Jason Douglas is in

Singapore. Jason, you have been putting out a number of big reports in recent days, reckoning with

the enormity of the changes coming to the global trade system, a new reality that is now very much upon us.

Yeah, I think that's right. We're all trying to wrap our heads around what this means for

globalization, what this means for the global trading system as it stands, as it stood for

...