President Donald Trump's "reciprocal" tariffs went into effect at midnight ET Thursday, affecting dozens of U.S. trading partners. "IT’S MIDNIGHT!!! BILLIONS OF DOLLARS IN TARIFFS ARE NOW FLOWING INTO THE UNITED STATES OF AMERICA!

Most of the new duties kicked in Thursday, hitting countries with elevated rates that mark a departure from long-standing trade norms.

U.S. President Donald Trump's so-called "reciprocal" tariffs took effect on Thursday, imposing higher duties on many of the country's trading partners' exports to the U.S. "IT'S MIDNIGHT!!! BILLIONS OF DOLLARS IN TARIFFS ARE NOW FLOWING INTO THE UNITED STATES OF AMERICA!" Trump wrote on social media platform Truth Social.