US President Donald Trump is expected to reveal the details of his plan for reciprocal tariffs on Wednesday. The White House says they will go into effect immediately.

Trump is scheduled to deliver remarks at an event called "Make America Wealthy Again" at 4 p.m. in Washington.

White House Press Secretary Karoline Leavitt said on Tuesday that Trump has been discussing the matter with a group of specialists in trade and tariffs.

She said, "The president has a brilliant team of advisors who have been studying these issues for decades, and we are focused on restoring the golden age of America and making America a manufacturing superpower."

Leavitt did not provide details about the size and scope of the tariffs, or which countries will be targeted.

Trump was asked on Monday if any US trading partners will be exempt. He responded by saying, simply, "It depends."