New Delhi, April 2 -- Stock markets across the globe are on high alert as investors are close to getting some clarity on US President Donald Trump is set to announce tariff plans on Wednesday.

Trump has for weeks pegged April 2 as "Liberation Day", when he plans to impose wide range of new tariffs that could upend the global trade system.

The reciprocal tariffs, aimed at boosting American manufacturing, could have big implications for corporate earnings, global economy, inflation and Federal Reserve's monetary policy.

Investors expect that Wednesday's long-awaited announcement could be pivotal for the near-term outlook for global financial markets.

They are also unsure about which way prices will swing and what will come next as negot...