ABOARD AIR FORCE ONE (Reuters) -U.S. President Donald Trump said on Sunday that he will announce on Monday 25% tariffs on all steel and aluminum imports into the U.S., another major escalation in his trade policy overhaul.

Trump, speaking to reporters on Air Force One, also said he will announce reciprocal tariffs on Tuesday or Wednesday, to take effect almost immediately.

Trump during his first term imposed tariffs of 25% on steel and 10% on aluminum, but later granted several trading partners, duty-free quotas, including Canada, Mexico, the EU and UK.