President Donald Trump speaks during a meeting with steel and aluminum executives in the Cabinet Room of the White House, Thursday, March 1, 2018, in Washington. From left, Beth Ludwig of AK Steel, Roger Newport of AK Steel, John Ferriola of Nucor, Trump, and Dave Burritt of U.S. Steel Corporation. (AP Photo/Evan Vucci)

OAN Newsroom
UPDATED 10:41 AM PT — Thurs. March 1, 2018

President Trump recently announced his administration will impose a new set of tariffs on steel and aluminum imports as soon as next week.

During a roundtable meeting on trade Thursday, the president said he plans to impose a 25-percent tariff on steel imports and a 10-percent tariff on aluminum.

15 representatives from the steel and aluminum industries were at the meeting.

In a tweet Thursday morning, the president blamed decades of bad trade policy for decimating the industries.

He said U.S. companies and workers must no longer be taken advantage of, and called for “free, fair, and smart trade.”

The stock market responded positively after the president’s tweet about the need for fairer trade.

Stocks jumped by two-to-seven percent after the post hit Twitter feeds.