President Trump Announces Steel And Aluminum Tariffs

President Donald Trump says the U.S. will place tariffs on steel and aluminum imports next week.

This announcement came at a last-minute "listening session" with steel and aluminum company executives, who support the tariffs.

Trump said there will be a 25 percent tariff for steel and a 10 percent tariff for aluminum. The move appears to be a push by the president to make trade deals more beneficial to U.S. companies. 

It's unclear if the tariffs will apply to all countries. But this could set off a trade war with major powers like China and the European Union. Politico notes members of the Trump administration are concerned tariffs would upset key allies.