And happening now what the White House is calling Liberation Day is here, but there's still a lot of uncertainty.

In just hours, President Trump expected to announce sweeping new tariffs.

What, how much, and how it could affect your wallet, we'll find out.

And there's more breaking news right now. Expansion into Gaza, new operations from Israel after a strike on a UN facility there kills 19 people.

New CNN reporting just coming in right now.

Welcome to our viewers here in the United States and around the world.

I'm Wolf Blitzer. You're in the situation room. And we begin with an announcement that could fundamentally reshape the U.S.

economy and its global partners and redefine what you pay for everyday expenses.

We're just hours away from the president's biggest tariff announcement so far.

And while the details of the new import taxes are still unclear, the White House has floated

the possibility of a 20% universal tariff. Chief economist tells CNN that could spark a, quote,

serious recession here in the United States.

In the Situation Room this morning we have economic and political experts to analyze the outcomes

and a team of CNN reporters dispatched across the US and indeed around the world.

Let's go live right now to CNN White House reporter Elena Treene.

Elena, the thing about today's announcement in Trump's history with tariffs in general, is that what we don't really know what to expect right now?

What's the latest?

Oh, yeah, well, the details are still very much unclear at Wolf.

And part of that is because yesterday the president spent much of his day, I'm told, huddled with top trade advisors, getting calls from friends and allies and really trying to prefer, perfect, as the White House has referred to it, this tariff announcement. Now, what we do know is that it's going to be at 4 p.m. today in the Rose Garden, his first Rose Garden event of his second term. And I'm told that it will

also include the pomp and circumstance that he wants for this kind of dramatic announcement.

But part of the thing that's interesting about that, Wolf, is the timing of this.

Originally, I was told it was slated to kick off at 3 p.m. then they moved the time to 4 p.m.

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