Scot Bertram, Americans' credit card debt has reached a record high of $1.21 trillion

Here are 3 big things you need to know—

 

One — President Trump is ordering reciprocal tariffs.  He said the latest tariffs will charge countries whatever they charge the U.S. – and that includes value-added tax systems used by other countries.  Commerce secretary nominee Howard Lutnick said the tariffs could go into effect by the beginning of April.

 

Two ---- Evacuation warnings are in effect n Los Angeles until at least Friday afternoon for burn zones with a high risk of  mudslides and debris flows.  A major rainstorm is heading to the California coast and could cause additional damages to areas already scarred by last month's wildfires. 

 

And number three —   Americans' credit card debt has reached a record high of one-point-21 trillion. That's according to a report released by the Federal Reserve Bank of New York. The increase is part of a broader rise in household debt, which now totals over 18 trillion dollars over credit cards, mortgages, auto loans, and student loans.