Trump: I Will Announce "Retaliatory" Tariffs

U.S. President Donald Trump stated that he will announce a 25% tariff on all U.S. imports of steel and aluminum on Monday.

Speaking to reporters aboard Air Force One, Trump added that he would also unveil retaliatory tariffs on Tuesday or Wednesday, which would take effect almost immediately.

During his first term, Trump imposed 25% tariffs on steel and 10% on aluminum, but later granted exemptions to several trade partners, including Canada, Mexico, the European Union, and the United Kingdom.