President Donald Trump's tariff plan will include carve-outs for NAFTA partners Canada and Mexico, NBC News reported Thursday, citing a source briefed on the matter.
Trump is also open to negotiations with other countries with which the U.S. has a security relationship, NBC added.
The Associated Press, meanwhile, reported that the tariffs will take effect in 15 days.
The president is slated to impose tariffs of 25 percent on steel and 10 percent on aluminum.
Trump is expected to formally sign off on the tariffs at a 3:30 pm ET event.