Your browser doesn't support HTML5 video.

Getty Images

President Trump Announces Steel And Aluminum Tariffs

President Trump said his administration will implement tariffs on steel and aluminum imports next week.

By Austin Kim | March 1, 2018

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.