Do not retaliate and you will be rewarded, White House says NBC10 Philadelphia [Video]

This was CNBC’s live coverage of how U.S. trade partners, the White House and employers responded to President Donald Trump’s historic tariffs.

What you need to know

CNBC’s reporters are covering the tariffs and their effects, live on air and online from our bureaus in Washington; London; Singapore; San Francisco; and Englewood Cliffs, New Jersey.

Canada and Mexico will not face an additional 10% tariff as a result of Trump’s announcement revising his so-called reciprocal tariff policy, a White House official tells CNBC.

The existing U.S. tariff structure on imports from Canada and Mexico — a 25% duty on goods not covered by the trilateral trade deal known as USMCA — remains unchanged, the official says.

— Kevin Breuninger