Stock markets around the world are plummeting after President Trump’s sweeping and unprecedented tariffs on imports to the United States took effect at midnight. They include across-the-board tariffs of 104% on Chinese goods, which prompted China to retaliate with levies of 84% on imports of U.S. goods. Hong Kong’s benchmark Hang Seng Index fell by over 13%, its biggest one-day drop since 1997. Japan’s Nikkei index fell by nearly 8%. Markets in India and the Middle East also tumbled.

On Tuesday evening, Trump celebrated the chaos set off by his trade war, telling an audience at the National Republican Congressional Committee’s annual gala that foreign leaders were lining up to make a deal.

President Donald Trump: “I’m telling you, these countries are calling us up, kissing my ass. They are — they are dying to make a deal. 'Please, please, sir, make a deal. I'll do anything. I’ll do anything, sir.’”

On Wall Street, Goldman Sachs has further raised the prospect of a recession in the next year, now putting the odds at 45%. A CNBC survey found two-thirds of U.S. corporate executives believe Trump’s trade war will trigger a recession.

Israeli airstrikes on eastern Gaza City have killed at least 29 Palestinians, with 80 others missing and dozens more wounded. Scores of people are believed to be trapped in the rubble after the strikes leveled 10 residential buildings.

At the United Nations, Secretary-General António Guterres on Tuesday reiterated his demands for Israel to end its total siege of Gaza, now in its sixth week.

Secretary-General António Guterres: “More than an entire month has passed without a drop of aid into Gaza — no food, no fuel, no medicine, no commercial supplies. As aid has dried up, the floodgates of horror have reopened. Gaza is a killing field, and civilians are in an endless death loop.”

An autopsy has revealed that a Palestinian child who died in an Israeli prison last month likely starved to death. Seventeen-year-old Walid Khaled Abdullah Ahmad collapsed on March 22 in Israel’s notorious Megiddo Prison, where he’d been held without trial for six months for allegedly throwing stones at Israeli soldiers. An Israeli doctor who observed the autopsy said Ahmad had suffered severe muscle and fat loss; he also had scabies and showed signs of torture.

In New Jersey, the family of a 14-year-old Palestinian American boy shot dead by Israeli forces is demanding an investigation into his killing. Family members say Omar Mohammad Rabea was shot 11 times in total during an Israeli raid Sunday near the town of Turmus Aya in the occupied West Bank.

The World Food Programme is calling on the Trump administration to reverse $1.3 billion in cuts to emergency food assistance for 14 nations facing famine. The WFP said in a statement, “If implemented, this could amount to a death sentence for millions of people facing extreme hunger and starvation.” Secretary of State Marco Rubio had previously promised to preserve the funds.

In immigration news, the Trump administration has revoked deportation relief for more than 900,000 immigrants who entered the United States through a parole process under President Biden. The Homeland Security Department has ordered immigrants who were given temporary protections under a Biden-era smartphone app known as CBP One to leave the United States in the coming days or face arrest and deportation.

The acting head of the Internal Revenue Service is resigning after the agency agreed to share personal tax data on undocumented immigrants with federal agents. Melanie Krause is at least the third top official to leave the IRS since Trump took office.

Here in New York, Mayor Eric Adams is reopening an Immigration and Customs Enforcement office inside the Rikers Island jail complex. Adams first signaled the move after he met with Trump’s so-called border czar Tom Homan in February. The New York Civil Liberties Union slammed the Adams administration for “selling out New Yorkers for Trump’s dangerous deportation regime.” The group said in a statement, “ICE’s presence on Rikers serves no legitimate purpose, and opens the door to unlawful collusion between local law enforcement and federal immigration officials in violation of our city’s well-established sanctuary protections. … New Yorkers see this for what it is: Mayor Adams skirting the City Council, cozying up to Trump, and putting immigrant New Yorkers in harm’s way.”

A federal immigration judge is set to rule Friday on whether the Trump administration has grounds to deport Palestinian Columbia University student protest leader Mahmoud Khalil, or whether he should be freed. In a hearing in Louisiana Tuesday, Judge Jamee Comans gave Trump officials a little over 24 hours to present their evidence in the case. Only 10 journalists were allowed at Tuesday’s hearing, while others said they were denied entry to watch it remotely. Khalil’s wife, Dr. Noor Abdalla, published a letter Tuesday in which she wrote, “Exactly a month ago, you were taken from me. This is the longest we have been apart since we got married. I miss you more and more every day and as the days draw us closer to the arrival of our child, I am haunted by the uncertainty that looms over me.”

A federal judge in Vermont will consider a request for ICE to release Tufts University student Rumeysa Ozturk on bail while her case is resolved in court. This came after a judge ruled her case could be moved from Boston to the state of Vermont. Ozturk remains jailed at a privately run ICE detention center in Louisiana after being taken by masked, plainclothes federal immigration agents from the streets of Somerville, Massachusetts, in late March.

This comes as Trump’s State Department has revoked the visas of nearly 300 international students nationwide. The students, including at the University of California, University of North Carolina at Chapel Hill, Harvard and other schools, now face deportation.

New video has emerged of the arrest of Badar Khan Suri, a Georgetown University professor and postdoctoral scholar who last month was ambushed by masked federal agents outside of his family’s home in Rosslyn, Virginia. After being repeatedly transferred across at least five ICE facilities, he’s currently jailed at an ICE detention center in Texas. His legal team said that for two weeks Suri was placed in a cell without a bed and with a television blaring 21 hours a day and was denied food or water to break his Ramadan fast. His legal team also said Suri’s son spent days crying uncontrollably after his father’s arrest and has now stopped speaking.

The Trump administration is freezing $790 million in federal funding to Northwestern University and more than $1 billion in funding to Cornell University. This is the latest attack on higher education as dozens of universities face investigations into allegations of antisemitism and claims of racial discrimination amid Trump’s efforts to gut diversity, equity and inclusion policies.

China has accused the Trump administration of blackmailing Panama with repeated threats of seizing the Panama Canal to diminish Chinese influence in the region. China’s Embassy in Panama said on social media relations between the two countries is a “sovereign decision of Panama … and something the U.S. doesn’t have the right to interfere in.” The remarks came after U.S. Secretary of Defense Pete Hegseth visited Panama Tuesday for a ribbon cutting ceremony of a new U.S.-financed dock at the Vasco Nuñez de Balboa Naval Base.

Defense Secretary Pete Hegseth: “Together, we will take back the Panama Canal from China’s influence.”

Hegseth also met with Panamanian President José Raúl Mulino. Protesters took to the streets of Panama City in response, condemning Mulino as a traitor for meeting with Trump officials.

Saúl Méndez: “Both Trump, Rubio and now Pete Hegseth have indicated that they are going to take the canal, and obviously the Panamanian people cannot accept this. And that is why we, a handful of patriots, are on the street today, rejecting the presence of the 'secretary of war' in Panama and repudiating Mulino, the traitor, who behind the people’s back is giving away our sovereignty and our self-determination.”

Russia’s military launched drone attacks on the Ukrainian cities of Dnipro and Kharkiv overnight, injuring at least 17 people. Kharkiv’s mayor said the attacks were aimed at terrorizing Ukraine’s civilian population into submission.

Mayor Ihor Terekhov: “This is our enemy’s new tactic to frighten the civilians. This is civilian infrastructure of the city. These are production enterprises. These are Kharkiv’s businesspeople. Of course they are scared. Also, when people go to sleep in the night, when children go to sleep and they encounter such strong strikes, the goal is to frighten the people.”

Ukrainian officials say they’re sending negotiators to Washington, D.C., next week for talks on a mineral deal that would see the U.S. continue sending weapons in exchange for U.S. access to Ukraine’s valuable mineral resources.

The Supreme Court will allow the Trump administration to fire 16,000 federal workers in their probationary period. Tuesday’s ruling did not determine whether the administration unlawfully fired the workers, as their union, the American Federation of Government Employees, argued in a lawsuit; instead, justices ruled 7 to 2 that the plaintiffs lacked legal standing to bring their case.

The White House has shrugged off a spat between President Trump’s trade adviser Peter Navarro and the world’s richest man, Elon Musk. On Tuesday, Musk used his social media site X to hurl insults at Navarro, calling him a “moron,” “Peter Retarrdo” and “dumber than a sack of bricks,” after Navarro defended Trump’s sweeping tariffs and described Tesla as “not a car manufacturer” but “a car assembler.” The Washington Post reports Musk has repeatedly tried — and failed — to pressure Trump to reverse the tariffs. On Tuesday, White House Press Secretary Karoline Leavitt dismissed the feud.

Press Secretary Karoline Leavitt: “Boys will be boys, and we will let their public sparring continue. And you guys should all be very grateful that we have the most transparent administration in history.”

A federal judge has ordered the White House to reverse a ban on Associated Press reporters in the Oval Office and Air Force One after the AP refused to adopt Trump’s new name for the Gulf of Mexico. On Tuesday, U.S. District Judge Trevor McFadden — a first-term Trump appointee — issued a preliminary injunction after determining the White House likely violated the AP’s First Amendment protections.