Trump’s promised ‘Liberation Day’ of tariffs is coming. Here’s what it could mean for you.

President Donald Trump says Wednesday will be “Liberation Day” — a moment when he plans to roll out a set of tariffs that he promises will free the United States from foreign goods.

The details of Trump’s next round of import taxes are still sketchy. Most economic analyses say average U.S. families would have to absorb the cost of his tariffs in the form of higher prices and lower incomes. But an undeterred Trump is inviting CEOs to the White House to say they are investing hundreds of billions of dollars in new projects to avoid the import taxes.

It is also possible that the tariffs are short-lived if Trump feels he can cut a deal after imposing them.

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