President Donald Trump’s new set of tariffs could drag down the US economy at a precarious time, when a growing share of consumers are struggling financially.

Trump has repeatedly called April 2 "Liberation Day." He is expected to enact reciprocal tariffs on major trading partners, especially those that contribute the most to the $1.2 trillion U.S. trade deficit.

American workers and businesses will be put first under President Trump, just as he promised on the campaign trail." TRUMP IS 'ALWAYS UP FOR A GOOD NEGOTIATION,' WHITE HOUSE SAYS, AS APRIL 2 'LIBERATION DAY' TARIFFS LOOMThe White House has kept a tight lip regarding details surrounding Trump's planned tariff announcement,

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.

Trump made his way back to the White House in no small part because of his promise to better the economy. He's staking a large part of his agenda on broad-based tariffs.

Donald Trump's 'Liberation Day' announcement could wipe out the Chancellor Rachel Reeves's economic wriggle room she set out just last week in the Spring Statement

Experts warn that U.S. reciprocal tariffs on Indian goods could impact various sectors, including agriculture, pharma, and electronics.