Trump will explain tariffs on electronics on Monday

Rep. Marlin Stutzman of Indiana joined ABC News Live on Tuesday to react to the latest on President Donald Trump’s tariff plans and the impact he thinks they will have.

"Made in America is on a comeback. We all talk about buying made in America, and instead, what's happened over the last several decades is that a lot of these manufactured goods are made elsewhere, whether it's Mexico or China," the Republican congressman told anchor Linsey Davis.

Despite the roller coaster stock market reactions to Trump's trade action, Stutzman believes the tariffs will make the country financially stronger in the long run.

"I would rather see President Trump doing what he's doing and setting the stage for our country to be strong economically because we have a debt crisis coming at us," Stutzman said.

Trump's sweeping tariffs are set to go into effect at 12:01 a.m. on Wednesday.

-ABC News' Luca Balbo

During a photo op with coal miners where he signed an executive order related to the coal industry, Trump touched on tariffs and claimed multiple countries would be flying to the U.S. to strike a "tailored deal."

"These are tailored, highly tailored deals. Right now, Japan is flying here to make a deal. South Korea is flying here to make a deal. And others are flying here," he said.

The tariffs don't go into effect until midnight, but Trump claimed without evidence that the U.S. was already bringing in "$2 billion a day" through the tariffs.

"Our problem is you can’t see that many that fast. But we don't have to because ... the money is pouring in at a level that we've never seen before. And, it's going to be great for us," the president claimed without giving more details.

-ABC News Hannah Demissie, Molly Nagle and Kelsey Walsh

Republican Sen. Thom Tillis, who grilled the president's top trade negotiator on Capitol Hill on Tuesday, expressed deep frustration with the tariffs as he entered the Senate Finance Committee.

"Of course, it concerns me. I mean my god, it's a stability issue. Businesses hate uncertainty. We've got a lot of uncertainty," he told ABC News.

When the hearing got underway, Tillis drove home that point.

"Whose throat do I get to choke if this proves to be wrong?" Tillis said.

Other Republicans are standing by the president but admit they don't know what the president's next move is.

Sen. John Kennedy, R-La., told ABC News the president is "absolutely correct" that foreign countries have trade barriers, but he also acknowledged he doesn't know what the president's "game plan" is.

"Whether this will have a happy ending or a sad ending depends in large part what President Trump does next," Kennedy said.

-ABC News' Rachel Scott and Allison Pecorin

White House press secretary Karoline Leavitt confirmed on Tuesday that Trump's threatened additional 50% tariff on China will go into effect early Wednesday, bringing the total tariff rate against Beijing to 104%.

"They will be going into effect at 12:01 a.m.," she said.

"It was a mistake for China to retaliate. The president, when America is punched, he punches back harder," Leavitt said. She added Trump believes China "wants to make a deal" but doesn't know where to start.