Donald Trump set to announce sweeping global tariffs on US 'Liberation Day' |@timetoscroll123

US President Donald Trump is preparing to unveil sweeping tariffs, in what the White House has dubbed "Liberation Day”.

He will outline the plans at the White House later today, but at this stage it's unclear how high the tariffs could go and exactly which countries could be targeted.

Trump argues the tariffs will help US manufacturers by encouraging consumers to buy American-made goods, but analysts warned it could push up prices and trigger a trade war.

The White House said Trump is open to last-minute talks, with "quite a few" countries calling the president on the eve of the announcement.

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