Trump also reaffirmed that he would announce “reciprocal tariffs” — “probably Tuesday or Wednesday” — meaning that the U.S. would impose import duties on products in cases where another country has levied duties on U.S. goods.

Summary

Donald Trump announced that the U.S. will impose 25% tariffs on all steel and aluminum imports starting Monday, including from Canada and Mexico.

He also plans “reciprocal tariffs” on goods from countries imposing duties on U.S. products.

Markets reacted negatively, with stocks dropping over tariff concerns.

Trump previously paused tariffs on Canada and Mexico but imposed 10% duties on China.