Trump is expected to sign a decree laying out new tariffs on steel and aluminum, the report said.
"We are definitely going to end up with these tariffs," Treasury Secretary Steven Mnuchin said on Fox Business, adding "and we're going to roll this out very, very quickly".
However, the measure looked set to spare both Canada and Mexico, for now, Dow Jones reported.
Still, it marks a turn in policy that could recalibrate relations between the US and its allies and trading partners, and ripple through the economy.
The decision follows intense lobbying efforts by lawmakers, aides, industries and trade partners, some hoping the president would back down and others pushing to ensure he doesn't back off.
(This story has not been edited by Social News XYZ staff and is auto-generated from a syndicated feed.)
