In a significant escalation of trade policy, President Trump is set to announce a 25% tariff on steel and aluminum imports, including from key trading partners like Canada. This announcement, scheduled for Monday, follows his commitment to implement reciprocal tariffs targeting various countries. Trump is aiming to address the U.S. trade deficit and has hinted that further import duties may also be introduced soon. As tensions rise, major economies are preparing to respond to these new tariffs, raising concerns about a potential trade war.