Trump announces 25% tariffs on car imports to U.S.

From the BBC World Service: The global auto industry has been rocked by sweeping 25% tariffs on all imports of cars and car parts to the United States under President Donald Trump. Then, Britain is facing issues familiar to many major economies, including a stretched budget, but the U.K. finance minister has set out how she plans to keep the finances in the black — all while upping defense spending.

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In less than 10 minutes, we'll get you up to speed on all the news you missed overnight. Throughout the morning, Marketplace's David Brancaccio will bring you the latest business and economic stories you need to know to start your day. And before U.S. markets open, you'll get a global markets update from the BBC World Service in London.