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.

Many on Wall Street expect signalling of a potential softening of the tariffs on Mexico and Canada, perhaps coming in the form of confirmation that goods that are “compliant” under the USMCA trade agreement between the three countries will remain tariff free.