New Delhi, April 1 -- On the eve of Liberation Day, as world economy waits with bated breath anticipating US President's much anticipated Tariff announcement on April 2, White House has vowed 'historic action' on what the US President touts as 'Liberation Day'.

The White House said that President Trump is set to take 'historic action' tomorrow, April 2, to improve American competitiveness through new tariff measures.

Reciprocal tariffs will take effect immediately, while car tariffs (not part of the reciprocal measures) are scheduled to go into effect on April 3, White House informed.

The White House also announced that products made in America will be exempt from these tariffs.

Currently, President Donald is meeting with his trade an...