President Trump says he'll announce the U.S. will impose 25% tariffs on all steel and aluminum imports, including from Canada and Mexico, as well as other import duties.

The 25 percent tariff the president is proposing is almost identical to a move in his first term. Economists and foreign governments know what will come next.

President Donald Trump says he will also impose "reciprocal tariffs" on any countries who place tariffs on the US.

Existing American tariffs already restrict steel and aluminum shipments from China, which is now flooding other markets with its exports instead.

If they are charging us 130% and we’re charging them nothing, it’s not going to stay that way,” he told reporters.

Trump said on Sunday he would introduce new 25% tariffs on all steel and aluminium imports into the U.S., on top of existing metals duties, in another major escalation of his trade policy overhaul. Starmer's spokesman said while it was not possible to speculate on the impact of such tariffs without seeing details,

Shares in European and Asian steelmakers fell on Monday after U.S. President Donald Trump said he would introduce 25% tariffs on all steel and aluminium imports within hours in addition to existing metals duties.