Trump will roll out the measures flanked by cabinet members in the Rose Garden of the White House at 4:00 pm (2000 GMT) -- after Wall Street markets close -- promising that they will stop America being “ripped off” and will deliver a new “golden age” of US industry.
The Republican billionaire has had a long love affair with tariffs, insisting in the face of economic experts that they are a cure-all that will tackle America's trade imbalances with friends and foes alike.
Global markets have been jittery for days ahead of Trump's announcement, while the countries most likely in the crosshairs have called for talks -- even as they ready retaliatory measures.
The move also underscores the growing and profound gulf between Trump's America and many of its closest allies, not only on trade but on security, defense and almost everything else.
Trump has trailed the measures for weeks, initially suggesting that the tariffs would simply match whatever levies other countries impose.
As the deadline drew near US media said he had also been considering blanket 20 percent tariffs -- and then that he was looking at a third option where some countries would get preferential treatment.
The tariffs would come into effect “immediately” after Wednesday’s roll-out, she added -- effectively ruling out any delays for negotiations with other countries.
His plans have however sparked growing fears of a damaging trade war around the world that could drive up prices and cause widespread disruption.
Major economies including the European Union and Canada have vowed retaliation.
The European Union, which Trump has accused of trying to “screw” the United States, said Tuesday it still hoped to negotiate a solution -- but that “all instruments are on the table” to retaliate if necessary.
The former property tycoon has used tariffs as a foreign policy weapon ever since his chaotic first term from 2017-2021.
Sweeping auto tariffs of 25 percent that Trump announced last week -- saying he “couldn’t care less” if prices of foreign cars went up -- are due to come into effect on April 3.
China was hit in March by additional 20 percent tariffs on all goods, triggering retaliatory duties from Beijing. The EU has unveiled its own measures to start mid-April.
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