Trump says he will announce reciprocal tariffs over next two days

U.S. President Donald Trump on Monday said he would announce plans to impose reciprocal tariffs on other countries over the next two days.

The Republican president spoke to reporters in the Oval Office as he signed two proclamations ending waivers granted by former President Joe Biden to steel and aluminum tariffs instituted during his first term and raising duties on both metals to 25%. Trump said he was also looking at tariffs on cars, semiconductor chips and pharmaceuticals.

Asked about the possibility of other countries retaliating against U.S. tariffs, Trump said: "I don't mind."