Donald Trump is due to reveal the fine detail of his tariff plans at 9pm Irish time.
A tariff is effectively a tax on imported, or sometimes exported, items.
They are expected to be around 20%, and cover most goods.
The EU's top finance official, European Central Bank President Christine Lagarde, says its really unclear what will happen:
"I don't think that I have ever mentioned the word "uncertainty" as many times as I have in the last few weeks because we simply don't really know to this day, which is supposed to be the day when it is announced what the deal will be for the rest of the world," she said.
The ECB President added, "but what we know is that it will not be good for the global economy. It's going to unsettle the trade world as we know it."
"Liberation Day"
Donald Trump has referred to this day as "Liberation Day," with concerns in Ireland the tariffs could hit Irish alcohol or pharmaceutical products particularly hard.
The European Union, Canada and other countries have promised to respond appropriately, but its also not yet clear what's planned for that.
Enterprise Minister Peter Burke says the US has shown no wish to discuss with the EU so far.
He's hoping the EU Commission President will make a statement tomorrow, "but not implement immediate retaliatory measures."
Minister Burke says, there seems to be a "fixation" with the "America First" agenda Donald Trump has been promoting.
"All the cards are not in US hands," he said.
There will never have been a transformation of a Country like the transformation that is happening, for all to see, in the United States of America. Companies are pouring into our Country at levels never seen before, with Jobs (and Money!) to follow. It is a beautiful thing to…
— Donald J. Trump (@realDonaldTrump) March 31, 2025
Donald Trump is due to address his country at 9pm tonight, Irish time.
