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From CNN. I'm Charlie Drever with the five things you need to know for Thursday, April 3rd.

This is one of the most important days, in my opinion, in American history.

It's our declaration of economic independence.

President Donald Trump has sent shockwaves around the world

after declaring a U.S. economic emergency and announcing tariffs of at least 10% across all countries.

Global reaction has been mixed. Some leaders want to negotiate, while others like the European Union and Canada are vowing to work together to retaliate.

If you take on one of us, you take on all of us.

We are going to fight these tariffs with countermeasures.

We are going to protect our workers, and we are going to build the strongest economy in the G7.

It's prompting fears of a global recession, and markets are already falling in Asia, where countries were hit particularly hard.

China, the second top exporter to the US behind Mexico, will now face a staggering 54% tariff.

It's also threatening countermeasures.

In a statement released earlier today, the country's Commerce Ministry spokesperson accused the US

of bullying and said, quote, there are no winners in a trade war.

The US's two other largest exporters, Mexico and Canada, were exempt from yesterday's announcement.

But Trump has already introduced a 25% tariff

...