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Hello and welcome to News Hour from the BBC World Service.
We're coming to you live from London.
I'm James Menendez.
The screenwriter, William Goldman, famously said of Hollywood, nobody knows anything.
Well, the same could be said of the world's economists, financial analysts and, indeed, politicians,
nervously waiting to find out what level of tariffs or import taxes President Trump will unveil later today in the Rose Garden of the White House.
One of the world's biggest banks wrote to its clients yesterday to say, we don't know what tomorrow brings.
And yet the tariffs, depending on how they're applied, could have a huge impact on all of us,
on businesses in the US, as we'll hear shortly, on inflation in the US and on global trade.
And that puts jobs in all sorts of sectors in the firing line.
For President Trump, though, today is Liberation Day,
freeing the US from the shackles of what he regards as other countries taking advantage.
Here's the White House spokeswoman Caroline Levitt.
Our country has been one of the most open economies in the world, and we have the consumer base hands down.
But too many foreign countries have their markets closed to our exports.
This is fundamentally unfair.
The lack of reciprocity contributes to our large and persistent annual trade deficit that's gutted our industries and hollowed out key workforces.
But those days of America, beginning tomorrow, being ripped off are over.
American workers and businesses will be put first under President Trump, just as he promised on the campaign trail.