New Delhi, April 2 -- US President Donald Trump is expected to impose a host of new reciprocal tariffs on the country's global trading partners on Wednesday. The new Trump tariffs are expected to change how trading works worldwide, risking cost increases and likely drawing retaliation from all sides.

The details of Trump tariff plans are still being worked out as Donald Trump is set to announce the tariffs at a White House briefing at 4 pm ET (1:30 am IST). Donald Trump has styled the new US tariff plans as America's "Liberation Day".

The new duties are due to take effect immediately after Trump announces them, while a separate 25% global tariff on auto imports will take effect on April 3.

The new Trump tariffs are a bid to boost US ma...