President Donald Trump has declared Wednesday "Liberation Day," when he is expected to roll out a tariff plan that will emphasize his "America First" mission.

Donald Trump has dubbed Wednesday April 2, 2025, "Liberation Day." What is it, and how does it apply to tariffs in the United States?

But at the heart of the decision-making is Trump himself — who has agitated for tough tariffs for more than 40 years.

President Donald Trump's sweeping reciprocal tariffs announcement on Wednesday has several countries taking varied approaches in how to respond.

The White House has remained reticent regarding the specifics of the potential tariffs and the countries it plans to target. But these countries could be on the list.

President Donald Trump‘s administration swatted down suggestions that his proposed “Liberation Day,” when sweeping tariffs will be unveiled on Wednesday, would lead to a depressed stock market and increased prices for the public.

Per an Axios breakdown: "The formula is to divide the U.S. trade deficit with each country by that country's exports to the U.S. The final reciprocal tariff was then divided by 2, with a minimum of 10% (which applies even to those countries with which the U.S. has a trade surplus)."

It comes as the president recently announced a 25% tariff on imported vehicles and some auto parts among other tariffs.

More than a dozen countries set for US reciprocal tariffs spent the first day of President Donald Trump's tariff rollout not only bracing for the economic fallout but with confusion about exactly what rates they might face.