President Trump said he will announce 25 percent tariffs on steel and aluminum on Monday, adding that he would also kick off reciprocal tariffs in the days after.
Trump said that the steel and aluminum tariffs would impact “everybody” when asked what countries would be effected.
“Any steel coming into the United States is going to have a 25 percent tariff— aluminum too,” Trump told reporters. “25 percent… for both.”
He added that details of the reciprocal tariffs will be announced on Tuesday or Wednesday in a news conference.
“Very simply, if they charge us, we charge them,” he said, adding that the tariffs would go into effect “almost immediately” and impact “every country.”
Trump has signaled that he would impose sweeping tariffs on steel and aluminum, as well as tariffs on semiconductor chips, pharmaceuticals, oil and gas.
On Friday, he warned that reciprocal tariffs would also be announced early next week, adding that he thinks reciprocal as opposed to a flat fee tariff is the fair approach.
“In terms of tariffs, I mean we’re going to have tariffs, mostly reciprocal tariffs,” he said.
“But probably a reciprocal tariff where a country pays so much or charges us so much and we do the same, so very reciprocal. Because I think that’s the only fair way to do it, that way nobody’s hurt— they charge us we charge them… as opposed to a flat fee tariff,” he added.
Trump imposed 10 percent tariffs on China on Feb. 1, following through on a longstanding pledge to target Chinese goods. He delayed the 25 percent tariffs on Canada and Mexico for a month after speaking with both nation’s leaders last week.
