President Donald Trump is touting April 2 as the day the U.S. gets "money, and respect, back." Here's why he's calling it "Liberation Day."

Mr. Trump announced last week that vehicles and auto parts imported into the U.S. will be subject to a 25% tariff rate. The auto tariffs are expected to go into effect at midnight, just hours after the latest round of tariff announcements by the president Wednesday afternoon.

Business leaders, consumers, and investors may learn more about Trump’s additional import duties on Wednesday, but their hesitation to commit to future spending may remain for much longer.

This analysis from the CSIS Economics Program and Scholl Chair in International Business unpacks the April 2 tariff announcements from the White House.

Global markets are tense as investors await President Donald Trump's much-anticipated "Liberation Day" tariff announcement.

President Donald Trump‘s long-awaited “Liberation Day” is already shaking up the global economy as the world prepares for his latest round of tariffs on Wednesday. The administration has not yet finalized the exact details of Trump’s reciprocal tariffs,

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 says “Liberation Day” is coming. On Wednesday, he plans to roll out a set of tariffs that he promises will free the United States from foreign goods.

These are the businesses and industries that are likely most exposed to President Donald Trump’s reciprocal tariffs.