The latest jobs data today painted a picture of a much softer labor market all summer than was previously known, raising fresh fears about the health of the U.S. economy and — in combination with President Donald Trump’s new tariffs — sending markets lower.

President Donald Trump’s tariff onslaught this week left a lot of losers – from small, poor countries like Laos and Algeria to wealthy U.S. trading partners like Canada and Switzerland.

On Thursday, Donald Trump announced sweeping new tariffs against U.S. trading partners that will go into effect next week. The announcement came on the same day that an appeals court grappled with the question of whether Trump’s tariffs are even legal.

President Trump aims to use a historic increase in tariffs, which he announced on July 31, to overhaul global trading alliances.

The art of the trade deal? About 70 countries face huge export tax increases, but a last-minute change in when they take effect gives them a week to negotiate new agreements.