Trump will announce new tariffs on steel and aluminum
President Trump said on Thursday that the U.S. will be announcing new tariffs on steel and aluminum imports "sometime next week."
Why it matters: Trump's announcement would impose 25% tariffs on steel and 10% on aluminum and will be in effect “for a long period of time," said the president. The announcement came as a surprise to many administration officials. Per Axios' Jonathan Swan, this mirrors "a truly remarkable breakdown in process."