Mocking US trade partners, Trump says: "We want to send you our cars. We want to send you anything, but we won't take anything you have."

He complains that EU countries don't want American poultry, and that Australia refuses to purchase American beef.

"They won't take any of our beef. They don't want it, they don't want it to affect our farmers."

Japan, South Korea and China "don't want us to sell our rice there", he adds.

Trump continues to say that through today's actions, the US is "standing up for farmers and ranchers" who have been "brutalised" by nations around the world.

He says that Canada imposes a 200-250% tariff on "many of our dairy products", saying the first can of milk is at a "very low price" but after that "it gets bad".

He adds that the US "subsidise[s]" a lot of countries - citing Canada and Mexico as examples.

At what point do you say "you've got to work for yourselves", he asks.

Image source, Reuters

Trump invites a supporter named Brian from the audience to speak. The man, who is wearing a fluorescent vest, says he is an auto worker who grew up in Michigan.

Brian speaks about how he's watched his entire life as auto-manufacturing "plant after plant" in the Detroit area has closed and jobs have moved away.

"Donald Trump's policies are going to bring back investment and new plants," he says.

He ends by saying union members in his industry support the president, and says he "can't wait to see what the future holds".

Bernd Debusmann Jr
Reporting from the White House

Image source, Bernd Debusmann / BBC

The crowd at the event is extremely receptive to Trump's message - as should come as no surprise.

To my right - where two rows of construction helmet-wearing workers are seated - many are exclaiming "that's right!" and "let's go!" as the president speaks.

Nearly all of them pulled out their phones to take pictures as Trump held up an extremely thick document which lays out the tariffs.

Trump says when it comes to trade, sometimes the "friend (is) worse than the foe".

He says that over 80% of cars made in South Korea are sold in South Korea, and over 90% of cars sold in Japan are made in Japan, and that US-made cars represent only a small fraction in those countries.

"Ford sells very little" in other countries, Trump says, an imbalance which has "decimated" US industries.

"That's why effective at midnight we will impose a 25% tariff on all foreign made automobiles," Trump says.

"Those days are over," Trump continues.

The US charges a 2.4% tariff on imported motorcycles, he says.

"Meanwhile Thailand and others are charging much higher prices, like 60%. India charges 70% and Vietnam charges 75%," he adds.

He goes on to criticise the EU and Asian countries for placing tariffs on US-made automobiles.

He adds that the measures other countries exploit are "non-monetary" as well.

Image source, Reuters

The president now says that for "decades" the US has slashed trade barriers on other countries while those nations "placed massive tariffs on our products".

In "many cases" the non-monetary barriers were worse than the monetary ones, he adds.

Trump accuses other nations of various things including stealing the US's intellectual property and adopting unfair rules.

Holding up a United States Trade Representative report he calls it "frankly upsetting when you read it".

Trump says jobs and local manufacturing will come "roaring back" to America, and promises to "pry open foreign markets".

He touts stronger competition and lower prices for consumers, to applause.

"This will indeed be the golden age of America," Trump adds.

Trump says that he will soon sign the highly-anticipated executive order that will enact reciprocal tariffs, a term which by Trump's definition means: "They do it to us, and we do it to them."

He says today marks the US's "declaration of economic independence".

"Now it's our turn to prosper," Trump says.

Bernd Debusmann Jr
Reporting from the White House

Image source, Reuters

There was a loud cheer as Donald Trump stepped up, with "hail to the chief" blasting through the speakers. Trump appeared to greet several people as he entered the Rose Garden, and swiftly moved to the podium in the centre.

Trump says that the US has been taken advantage of by "cheaters" and has been "pillaged" by foreigners.

"Our taxpayers have been ripped off for more than 50 years, but it is not going to happen anymore," he adds.

Trump is met with applause and thanks the crowd for attending, beginning by saying there will be "very good news today".

Today is "Liberation Day", he continues, something he says the US has been waiting a long time for.

He adds that today will be remembered as the day American industry is "reborn" and the day America was "made wealthy again".

Image source, US Pool

Donald Trump has started speaking in the Rose Garden of the White House.

Press watch live above to follow along, and we'll bring you his announcement on tariffs on this page.

Bernd Debusmann Jr
Reporting from the White House

Image source, Bernd Debusmann Jr/BBC

I'm now in the Rose Garden of the White House, where a Marine Corps jazz band is playing for a crowd of several dozen people, lined up on the grass in white chairs.

Some of the attendees are wearing hard hats and construction gear - a hint of what is likely to be Trump's message that these tariffs are meant to benefit the American worker.

From my vantage point, I can see several administration officials and lawmakers, including Director of National Intelligence Tulsi Gabbard and Florida Representative Byron Donalds.

Robert F Kennedy Jr is clearly visible as well, laughing loudly as he chats to his neighbours.

Also among those in attendance is Sean Spicer, Trump's first press secretary, who walked by and briefly greeted the press - most of which has been penned up behind velvet ropes to the rear of the garden.

Bernd Debusmann Jr
Reporting from the White House

Several dozen reporters are congregated outside the doors that lead to the Rose Garden - anxious to get inside.

The international contingent is larger than most events I cover here. In the area immediate surrounding me, I see Brazilian, Italian and Japanese news crews.

A Spanish-speaking crew from a US network is nearby, discussing the impact of tariffs on Mexico and how the mechanics of that may play out.

I can't see the Rose Garden from here yet, but I do hear jazz music being played on loudspeakers.

What are the longer-term impacts of tariffs?published at 20:41 British Summer Time 2 April

20:41 BST 2 April

By Ben Chu, BBC Verify policy and analysis correspondent

Most economists think that the impact of rapidly-rising tariffs will be negative - but the extent of the economic damage will depend on how much other nations follow the US in imposing tariffs of their own both on the US and other trading partners.

In 2020, economists at the Organisation for Economic Co-operation and Development, a club of mainly rich nations, examined the potential impact of an extreme global trade war, in which tariffs on all goods traded between countries shot up to 25%.

This research suggested that the global economy would end up around 5.5% smaller, external, with higher losses for the US, Korea and Australia.

The UK and Canada - which rely more heavily than most on imports needed for industrial production - were seen suffering losses of more than 10% of their economic output.

Ali Abbas Ahmadi
Reporting from Windsor, Ontario

I’ve just arrived in Windsor, Ontario, a city right on the border with the United States, that is billed as the automotive capital of Canada.

Windsor and the surrounding Essex County are home to around 422,000 people, of whom more than 42,300 work in manufacturing. So the threat of a potential 25% tariff on cars, in addition to the existing 25% on steel and aluminium, looms large over this region.

On Saturday, a senior executive from Linamar - an Ontario-based supplier to the major automakers - warned that the car industry in North America could grind to a halt in less than a week in a trade war.

That threat is at the forefront of everyone's minds in Windsor, as the residents had a front-row view to the economic decline in Detroit, just across the river, after the automobile industry there collapsed in the early 2000s.

President Trump's announcement on new tariffs is set to begin in just under 30 minutes. He will be speaking from the White House where he has invited steel and auto workers, as well as his cabinet and some members of Congress.

We'll be bringing you the key lines in our page, and you'll be able to watch yourself by clicking Watch live above once it starts.

For now, here are the main points to know:

• On a day Trump has called "Liberation Day", the president is prepping to announce a set of new tariffs from the White House
• Very little detail has been shared so far but Trump has said the tariffs are aimed at addressing "unfair" trade relationships
• Other countries are waiting to see the substance of the announcement before deciding how to react. We've seen some warnings throughout the day of the harms that a trade war might bring
• As a quick reminder, tariffs are taxes placed on goods that imported from abroad at the point they enter into that country

Tommy Lumby
Business data journalist

Last week, the UK's Office for Budget Responsibility published estimates of how the British economy could be hit by tariffs, according to different scenarios.

In the first, the US increases tariffs on goods from China, Canada and Mexico by 20 percentage points, and these countries retaliate to the same extent.

On top of the above, the second scenario sees the US raise tariffs on goods from all other countries by 20 percentage points.

The third includes the assumption that, in addition to everything mentioned above, all US trading partners retaliate with their own equivalent tariffs on US goods.

Bernd Debusmann Jr
Reporting from the White House

Peter Navarro, the White House's senior counselor for manufacturing and trade, has defended tariffs as a "restoration of full-spectrum manufacturing" in an opinion piece penned in USA Today.

In the piece, Navarro - one of the administration's most outspoken supporters of tariffs - argued that automobile tariffs in particular will create jobs and increase wages across the US.

"No longer does America fully manufacture its own automobiles," he wrote. "We largely assemble high-value parts made overseas."

Explaining the decline in US auto manufacturing, Navarro said that "other nations use unfair trade practices and predatory industrial policies to flood our market with subsidized vehicles and parts while blocking US exports from reaching their own consumers."

Trump's 25% tariffs on foreign cars and parts, Navarro added, "will provide powerful incentives for automakers to bring engine, transmission and drivetrain production back to American soil".

Navarro specifically cited manufacturers in Japan, Germany and India as examples.

"This isn’t protectionism. It’s restoration," he concluded. "Restoration of full-spectrum manufacturing, from bolt to body. Restoration of high-wage, high-skill jobs. And restoration of America’s arsenal of democracy."