President Donald Trump is scheduled to announce significant tariffs on other countries in a speech Wednesday afternoon at the White House.

The Trump administration took that formula’s figure, -0.5 for South Korea, and divided it by two to calculate the U.S. “discounted reciprocal” tariff rate. So, while South Korea imposes an effective tariff rate of .79 percent on U.S. goods, the reciprocal tariff rate the U.S. is imposing on South Korea is 25 percent.

Donald Trump was mocked for his botched bronzer job on his face during a White House press event on "Liberation Day." When the president announced a slate of new tariffs imposed on over two dozen nations around the world,

The eight-page chart circulated by the White House of countries subjected to President Donald Trump‘s “Liberation Day” tariffs included tiny overseas territories ruled by larger nations and even uninhabited islands near the North and South poles.

At least four Republican lawmakers are planning to attend President Trump’s “Liberation Day” event celebrating his new slate of tariffs, according to a White House official. Senate Majority Leader John Thune,

The dollar firmed a touch and other currencies held tight ranges on Wednesday as traders anxiously awaited details of U.S. President Donald Trump's tariff plans later in the day that could set the tone for markets in the near term.