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Markets brace for a big week of trade announcements since the U.S. puts universal tariffs back on the table.

So what we're seeing is what the world's largest banks have been doing really for the last several weeks now,

which is essentially escalating their warnings about the American economy.

Plus, President Trump threatens sanctions on Russia as Ukraine peace talk stall and Apple's

satellite expansion plans landed in SpaceX's crosshairs.

It's Monday, March 31st.

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.

Tariff Week is upon us. President Trump has set Wednesday as Liberation Day when he'll

pull back the curtain on a range of new levees. And even as that deadline nears, we report that the administration

is still scrambling to nail down the specifics, including whether to impose individualized

tariffs on specific trading partners or reach for across-the-board tariffs, potentially as high as

20 percent, that would affect virtually every country doing business with the U.S.

That's according to people familiar with conversations between the president and his team in

recent days in which he's pushed them to be more aggressive. Trump for months promoted the

idea of universal tariffs during his campaign, but later ditched the idea in favor of a so-called

reciprocal tariff plan. In administration officials said that reciprocal plan is still on the

table, but that whatever is unveiled on April 2nd, Trump wants the policy to be, quote,

...