Watch live: Trump addresses business leaders amid economic uncertainty

President Trump will give remarks to a room of business leaders Tuesday evening, as concerns around a possible trade war and the impact of tariffs on the U.S. economy mount.

Trump's 25 percent tariffs on Mexico and Canada, the U.S.'s top trading partners, went into place earlier this month — though he did make some exceptions, including automobile imports and products covered under the U.S.-Mexico-Canada trade agreement. In response, Canada issued an electricity surcharge on three states: New York, Minnesota and Michigan. Trump has threatened reciprocal tariffs in return when a pause lifts on April 2.

The president's refusal to rule out a potential recession has also sparked fears, especially as repairing the economy was a key priority during his time on the campaign trail. As the stock market and his approval rating took a tumble this week, Trump will need to convince the Business Roundtable CEOs that the U.S. is just in a "period of transition."

The event is scheduled to begin at 5 p.m. EDT.

Watch the live video above.