Follow The Post’s live updates on President Trump’s “Liberation Day” tariff plan for the latest news, analysis and market reactions after he unveiled reciprocal import

The tariffs are expected to follow similar recent announcements of 25 percent taxes on auto imports; levies against China, Canada, and Mexico; and expanded trade penalties on steel and aluminum.

Trump administration officials say that tariffs will spur both foreign and domestic companies to expand in the U.S.; lead to more balanced trade with economic allies; reduce the U.S. trade deficit with other countries; and generate federal revenue that can be used for other priorities.

President Trump has set a deadline of Wednesday to announce sweeping tariffs

All eyes on President Trump as he prepares to reveal next phase of sweeping tariff agenda, as global markets fear escalating trade war

President Donald Trump has been calling April 2 "Liberation Day" as he reportedly plans a new round of tariffs.

The president's long-awaited tariff announcement will come on the same day Trump faces a possible rebuke from the Senate. Enough Republicans are expected to join Democrats on Wednesday in voting to end the emergency declaration enabling tariffs against Canada.

President Donald Trump is set to announce a barrage of tariffs Wednesday in what he is calling “Liberation Day."