Hey there from CNN. I'm Krista Bow with The Five Things You Need to Know for Wednesday, April 2nd.

President Donald Trump and his team are finalizing their massive tariff plan that's set to be announced later this afternoon.

And according to people familiar with the matter, the White House was still weighing up the pros and cons late yesterday.

CNN's Kevin Liptack breaks down what's

on the table. Krista, the president was weighing a huge array of options when it comes to these tariffs.

One was a 20% universal tariff rate on all imports. That would be the most extreme option,

but it would bring in billions of dollars in new revenue.

He's also thinking about a tiered system with sets of flat rates for different groupings of countries that would assign higher rates for countries that were seen as the worst tariff offenders and lower

rates for others.

He's also thinking about, you know, a true reciprocal tariff that would assign individual

rates to each

country, essentially dollar-for-dollar tariffs depending on those country's own duties.

It will all be revealed in the Rose Garden at 4 p.m. today.

Treasury Secretary Scott Besant spoke to lawmakers today and a source familiar with the conversation

said that he said the tariff rates will amount to a ceiling

and can be negotiated downward.

Besson's comments suggest the administration views the tariffs as a tactic to pressure other countries

to lower their duties on U.S. imports.

The Supreme Court is hearing arguments today on whether states are allowed to cut Medicaid funding for planned parenthood.

At the center of the case is an executive order signed by South Carolina's governor in 2018, which pulled spending for the state's two clinics run by the nonprofit.

He argued that the payments were essentially a taxpayer subsidy for abortion,

and federal and state law bans Medicaid from funding abortions in most cases.

...