Trump's Next Trade Move: Tariff Rise

Donald Trump plans to announce a 25% tariff on steel and aluminum imports, furthering changes in U.S. trade policy. This marks an escalation from his first term when similar tariffs led to duty-free quotas for key partners. Reciprocal tariffs are also expected to follow swiftly.

In a significant escalation of U.S. trade policy, President Donald Trump announced plans for a 25% tariff on all steel and aluminum imports starting Monday.

Addressing reporters onboard Air Force One, Trump revealed that reciprocal tariffs would soon be introduced, potentially as early as Tuesday or Wednesday, and would take effect almost immediately.

In his first term, Trump had implemented similar tariffs, imposing 25% on steel and 10% on aluminum, but later exempting partners like Canada, Mexico, the EU, and the UK with duty-free quotas.

(With inputs from agencies.)