Trump is now planning a splashy ‘Liberation Day’ announcement. What he’ll say is still up in the air

Everything from reciprocal tariffs on all countries, the enactment of delayed 25% tariffs on Mexico and Canada, and tariffs on lumber, copper, pharmaceuticals and microchips have been proposed.

For weeks, President Donald Trump has promoted April 2 as “Liberation Day” in America, when a number of massive tariffs will be announced to fulfill the administration’s ambitious economic agenda. The plan has largely remained a mystery, however, as Trump and his administration have floated a number of constantly changing and conflicting proposals. Now we know a little more about what to expect. A very little bit: We now know how it will be announced. Maybe. Trump will unveil his tariff plan on Wednesday in his first Rose Garden press conference of his second term, White House press secretary Karoline Leavitt told reporters Monday. The cabinet will be present for the event, she said. “Wednesday, it will be Liberation Day in America, as President Trump has so proudly dubbed it,” Leavitt said. “The President will be announcing a tariff plan that will roll back the unfair trade practices that have been ripping off our country for decades. He’s doing this in the best interest of the American worker.” But Leavitt did not provide any details about what Trump would announce. She suggested, as Trump has said repeatedly, that the president could announce reciprocal tariffs Wednesday, matching other countries’ tariffs dollar for dollar. Leavitt noted astronomically high tariffs some countries charge for American products, such as a 250% tariff Canada has on the books for American dairy products. Although those numbers are often high on paper, they’re tariffs that are probably never charged because nations with ultra-high tariffs import very little from the United States.