WASHINGTON (NEXSTAR)– As President Donald Trump prepares to move forward with sweeping tariffs on all U.S. trading partners, the world is watching anxiously.

The tariff threat has triggered major swings in stock markets in the U.S. and overseas in recent days, concerns the White House is downplaying. Democrats on Capitol Hill are making their opposition known.

Overnight, New Jersey Democratic Sen. Cory Booker spoke on the Senate floor in protest of actions taken by President Trump’s administration.

“I rise tonight because I believe sincerely that our country is in crisis. And I believe that not in a partisan sense,” Sen. Booker said.

In just one day, President Trump will unveil a new round of reciprocal tariffs against U.S. trading partners, calling it “Liberation Day.”

“Whatever they charge us, we charge them. But we’re being nicer than they were,” President Trump said.

The president says he plans to impose broad tariffs this week on countries whose trade policies he believes have been unfair to the U.S.

“Because they’ve been ripping us for 50 years, longer,” he said.

Connecticut Democratic Congressman Joe Courtney says tariffs will raise prices for consumers

“It’s really the people on Main Street who are going to feel the brunt,” Rep. Courtney said.

With details of tariffs expected Wednesday, all eyes are on how trading partners will respond.