White House officials have drawn up plans for 20 percent tariffs on most goods imported into the United States, the Washington Post reported.

For weeks, U.S. President Donald Trump has designated April 2 as "Liberation Day" to impose a series of new tariffs that could upend the global trading system, but he did not provide many details. On March 30, he said reciprocal tariffs would be targeted at all countries that impose duties on U.S. goods. A day later, the White House said any country that treated Americans unfairly should expect to receive a duty. Trump also said a 25 percent duty on auto imports would go into effect on April 3.

Trump is scheduled to unveil his tariff plan at an event in the Rose Garden at 10 p.m. EDT on April 2. His administration officials say no final decision has been made on the size, scope and purpose of the tariffs. According to the Washington Post, officials are considering a plan that would raise tariffs on products by about 20 percent from nearly all countries, rather than more targeted approaches that have also been considered. The administration expects that the new tariffs will result in more than $6 trillion in revenue that could be passed on to Americans as a rebate.

A White House aide said any report before tomorrow's event was "just speculation."

The Republican have already imposed tariffs on aluminum and steel imports and increased duties on all goods from China, raising tensions with the country's biggest trading partners. | BGNES