(AURN News) — President Donald Trump has declared Wednesday as “Liberation Day," setting the stage for a highly anticipated announcement that could reshape America's trade relationships around the globe.

April 2 is the day Trump has promised to announce just exactly what he will do when it comes to tariffs. The dizzying carousel of on-again-off-again tariffs or differing amounts or even changing countries that may face tariffs has continued to change day by day.

Markets have reacted with surprising resilience despite the uncertainty. The stock market rallied on Monday, shrugging off concerns about what specific measures Trump might unveil on Wednesday.

The announcement comes against a backdrop of persistent inflation pressures. The PCE price index, a key measurement used by the Federal Reserve, increased 0.3 percent for February. Excluding food and energy, the PCE price index increased 0.4 percent.

Learn more about your ad choices. Visit megaphone.fm/adchoices