Trump has repeatedly called April 2 “Liberation Day,” with promises to roll out a set of tariffs, or taxes on imports from other countries, that he says will free the U.S. from a reliance on foreign goods. To do this, Trump has said he’ll impose “reciprocal” tariffs to match the duties that other countries charge on U.S. products.

The BBC's North America Business Correspondent Erin Delmore unpacks the reciprocal taxes the president has promised.

Shares in the US have bounced back, despite tariff fears hitting stocks in Asia and Europe after US President Donald Trump suggested that he was planning import taxes that could hit "all countries". Trump's comments came as he prepares to unveil a massive slate of import taxes on Wednesday,