The White House has said President Donald Trump’s reciprocal tariffs will go into effect “immediately” after he announces them Wednesday. 

White House press secretary Karoline Leavitt delivered the information Tuesday during a press briefing, saying the president’s historic action will improve American competitiveness in every area of industry, reduce the country’s massive trade deficits, and protect its economic and national security. 

Earlier on Tuesday, the White House announced that Trump will speak at a “Make America Wealthy Again” event in the White House Rose Garden at 4 p.m. Wednesday local time, or 5 a.m. Thursday Korea Standard Time.

Addressing speculation that Trump is considering a universal 20 percent tariff on almost all imports, the spokesperson said she didn’t want to get ahead of the president.

She added that Trump has made his decision on the level of tariffs he plans to impose and the world will find out in about 24 hours.