Hello and welcome to NewsHour from the BBC World Service. Coming to you live from London,

I'm Celia Hatton. Our top story on NewsHour, well, it's a story that affects us all. Donald Trump

declared a US economic emergency before he announced his new import taxes yesterday, a baseline of 10%

tariffs across all countries with much, much higher rates for another 60 countries and trading

blocks that have trade deficits with the United States. And today, the reaction. In the U.S.,

stock markets have fallen sharply on opening. Following President Trump's announcement,

stocks for tech companies and clothing retailers have been particularly badly hit. There's also been a slide in oil prices,

another indicator of economic confidence. Investors fear the tariffs will hit growth and drive up inflation, both in

the U.S. and around the world. In Paris, the French president, Emmanuel Macron, met with industry

chiefs affected by the tariffs. In his opening comments, Mr Macron was scathing about Donald

Trump's decision. The decision that was announced last night is brutal and baseless,

baseless because we do not correct trade imbalances by imposing tariffs.

And the foundation of economic theory shows the opposite,

especially when the imbalances do not take into account

the tech industry, for example. In the end, this decision will affect all areas of our economy.

Many other countries in South and East Asia were targeted. Analysts think this may be an attempt

by President Trump to hit Chinese factories that have already moved to those

countries. Cambodia is facing tariffs of 49% that will herd as clothing and footwear industries.

These factory workers in the Cambodian capital, Phnom Pen, said they were already struggling to make ends meet.

And the tariffs could make their lives even harder.

I worry that the tariffs will cause the factories to shut down

and all the workers to lose their jobs.

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