Trump To Unveil Sweeping Tariffs, Keeping Details Under Wraps

US President Donald Trump will introduce a sweeping package of tariffs on Wednesday, dubbed Liberation Day tariffs, in a move that could escalate tensions and trigger a global trade war.

Reports say Trump will unveil the measures in a high-profile Rose Garden event at 4:00 p.m. 2000 GMT, accompanied by key cabinet members. The timing-after Wall Street closes-suggests an attempt to manage market reactions. The president claims these tariffs will prevent the US from being ripped off and usher in a golden age for American industry.

However, while Trump insists he has decided on the specifics of the retaliatory measures against nations imposing tariffs on the US, the White House admitted late Tuesday that final adjustments were still being made.

Trump has long advocated for tariffs, arguing they will correct trade imbalances despite warnings from economists that they could backfire, leading to higher prices for American consumers and an increased risk of recession.

The president has hinted for weeks that the new tariffs would mirror levies imposed on US goods by other countries. However, details remain unclear. Reports suggest Trump has considered blanket 20 percent tariffs, as well as a more selective approach that would grant preferential treatment to some nations.