The White House says Wednesday's expected announcement of new, aggressive tariffs will be a "Liberation Day" for American consumers, but even many in the business sector are concerned about their potential impact on their bottom line.

Trump has repeatedly called April 2 “Liberation Day,” with promises to roll out a set of tariffs, or taxes on imports from other countries, that he says will free the U.S. from a reliance on foreign goods. To do this, Trump has said he’ll impose “reciprocal” tariffs to match the duties that other countries charge on U.S. products.