Trump will explain tariffs on electronics on Monday

During his remarks at the National Republican Congressional Committee dinner in Washington, D.C., on Tuesday, President Donald Trump touted his tariffs plan, doubling down and telling GOP congressional members, "I know what the hell I'm doing."

Trump's comments come as concerns grow about the impact the tariffs will have on the economy and stock market.

With his reciprocal tariffs set to go into effect at 12:01 a.m. ET on Wednesday, the president again said that the US has been ripped off and that he’s putting an end to it.

"Many countries have -- they've ripped us off left and right. But now it's our turn to do the ripping," he said.

Trump claimed that countries have been calling him wanting to make a deal in the lead up to the sweeping tariffs.

"I'm telling you, these countries are calling us up, kissing my a**. They are -- They are dying to make a deal," he said.

-ABC News' Hannah Demissie

President Donald Trump's sweeping tariff policies are already impacting home building.

ABC News spoke with Scott Saling, a second-generation contractor in Potomac, Maryland.

Saling said nearly every material used to build his home comes from overseas -- or is constructed from materials imported from other countries -- from the HVAC to the railings, the sheetrock, the metal brackets and the lumber too.

"You've got steel, tile wood, all sourced from Canada and China," Saling said.

Already, Saling said his suppliers have started raising prices anywhere from 5% to 20% on supplies amid the tariff threats.

"Increases on roofing and lumber materials and metal. It's already here," he said, adding he has "no choice" but to pass the costs off to his customers.

-ABC News' Rachel Scott Benjamin Siegel

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