This is a Fox News alert. The plan rolled out. I'm Lisa Lacerra. President Trump says today will be remembered as the day American industry will be reborn as he makes his announcement on tariffs.

Instituting reciprocal tariffs on countries throughout the world. Reciprocal, that means they do it to us and we do it to them. The president said the tariffs are kind reciprocal, not full reciprocal. That means they do it to us and we do it to them.

The president said the tariffs are kind reciprocal, not full reciprocal.

For decades, the United States slashed trade barriers on other countries, while those

nations placed massive tariffs on our products and created outrageous non-monetary barriers

to decimate our industries. And in many cases, the non-monetary barriers to decimate our industries, and in many cases,

the non-monetary barriers were worse than the monetary ones.

There will be a 10% baseline tax on imports from all countries and higher rates on a number

of countries that run trade surpluses with the U.S.

Senate Democratic leader Chuck Schumer says the tariffs are a crazy idea

that have no benefit. There are tens of thousands of job losses in every part of New York State

because they are tariffs. They are a tax on families. They don't like taxes. This is one of the

worst taxes they could put in. A Canadian government source says Canada will announce its response to the tariffs tomorrow.

Ahead of the president's tariff announcement, Wall Street swung higher.

The Dow gained 235, the NASDAQ, up 151.

The S&P plus 37.

A federal judge has tossed the corruption case against New York City Mayor Eric Adams.

The judge dismissed the case against Mayor Eric Adams, denying prosecutors the option to refile the charges at a later date

and saying that the Justice Department's rationale for wanting the charges thrown out was, quote, troubling.

Allowing the refiling would have risked Adams having to govern in a way favorable to the Trump

administration or be charged again. Fox's Tanya J. Powers. After the announcement, reporters asked Adams

about his chances of being reelected. He said he's going to win. America is listening to Fox News.

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