President Donald Trump is holding a "Make America Wealthy Again" event, during which he is expected to announce and reveal further details surrounding his "Liberation Day" tariffs that will roll out Wednesday.

President Donald Trump is scheduled to announce significant tariffs on other countries in a speech Wednesday afternoon at the White House.

The new tariffs — coming on what Trump has called “Liberation Day” — is a bid to boost U.S. manufacturing and punish other countries for what he has said are years of unfair trade practices. But by most economists’ assessments, the risky move threatens to plunge the economy into a downturn and mangle decades-old alliances.