President says talks to continue on Saturday and adds he and Israeli president also discussed tariffs and Israel-Gaza war

EU ministers are in Luxembourg to consider the European Union’s response to Trump’s sweeping tariff regime amid continuing market turmoil and heightened fears of a global economic recession.

It comes after Trump doubled down on his tariff policy in comments aboard Air Force One overnight. He said Europe “has treated us very, very badly,” and “has taken our leaders for a ride”, and declined to hold talks on changing tariffs “unless they pay us a lot of money on a yearly basis”. He also repeated criticism of Europe for not spending a fair share on Nato.

Trump says he intends to impose ‘reciprocal tariffs’ on foreign imports and revealed varying amounts against the top US trading partners

• Full report – Trump announces sweeping new tariffs

Donald Trump’s planned tariffs will be negative across the world, with the damage depending on how far they go, how long they last and whether they lead to successful negotiations, the European Central Bank head, Christine Lagarde, said on Wednesday.

The Trump administration on Wednesday is set to announce “reciprocal tariffs” targeting nations that have duties on US goods. That move would come after it slapped new import levies on products from Mexico, China and Canada – the top US trading partners – as well as on goods including steel and autos.

Wisconsin beat the billionaire.

Wisconsin cannot be bought. Our democracy is not for sale. And when we fight, we win. Congratulations, @CrawfordForWI

Democrats had hoped to flip seats vacated by Mike Waltz, now US national security adviser, and Matt Gaetz

US voters are headed to the polls on Tuesday in Wisconsin and Florida in elections that some see as a test of Donald Trump’s popularity and the political clout of his billionaire ally Elon Musk.

The most closely watched contest is a battle for a seat on Wisconsin’s seven-member supreme court. Conservatives are trying to flip ideological control of the court, which currently has a 4-3 liberal majority. The contest, which features liberal judge Susan Crawford facing off against conservative Brad Schimel, will have huge consequences in the state.