President Donald Trump just enacted a new wave of tariffs on dozens of America’s trading partners, marking a substantial escalation in ongoing trade tensions that could constitute the biggest change to the global economy in nearly a century.

President Donald Trump’s sweeping new tariffs finally took effect on Thursday, slapping levies on dozens of countries and risking price increases for a host of everyday goods. Tariffs between 10% and 41% were applied to nearly 70 countries beginning at 12:01 a.m. Thursday, significantly expanding the reach of Trump’s confrontational trade policy.

The US president is increasingly tying trade policy to geopolitics, using economic might to bend countries to his will