Trump’s ‘Liberation Day’ tariffs were worse than expected—sparking a global selloff

• In today’s CEO Daily: Diane Brady on Trump’s new taxes for international trade.
• The big story: Tariffs were worse than expected.
• The markets: Global selloff under way.
• Analyst notes from Wedbush, EY, and Swoop Funding on—you guessed it—the tariffs, jobs, and Tesla.
• Plus: All the news and watercooler chat from Fortune.

Good morning. Friend or foe? It hardly mattered yesterday as Donald Trump unveiled sweeping targets against all the trading partners of the United States.