Trump trade advisers: Tariffs coming by next week, will apply to allies

Navarro (far right) and Ross in the Oval with Trump and Pence last year. Photo: SAUL LOEB/AFP/Getty Images

Peter Navarro, President Trump's top adviser on trade, said on CNN's "State of the Union" that Trump will sign tariffs on steel and aluminum this week, or the following week at "the latest," and "at this point in time there's no country exclusions."

Why it matters: These tariffs could hit allies like Canada, South Korea and the U.K. hard, and they're hoping Trump will make exceptions in their cases. According to Navarro, that's not the plan.