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

More than a dozen countries set for US reciprocal tariffs spent the first day of President Donald Trump's tariff rollout not only bracing for the economic fallout but with confusion about exactly what rates they might face.

The president wants to rebalance America’s relationship with the rest of the world. Experts warn of price hikes and a possible recession.

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.

President Donald Trump is "always up for a good negotiation," the White House said as the administration is gearing up to announce April 2 "Liberation Day" tariffs.

But at the heart of the decision-making is Trump himself — who has agitated for tough tariffs for more than 40 years.

Russia and North Korea were excluded from Trump's tariff list as neither country engages in meaningful trade relations with the United States.

It comes as the president recently announced a 25% tariff on imported vehicles and some auto parts among other tariffs.

Aides struggled to satisfy the president’s competing priorities before settling on a plan to both raise revenue and boost corporate onshoring.