President Donald Trump told Republican lawmakers that he plans to announce reciprocal tariffs as early as Friday, three sources familiar with the plans told Reuters. The move would fullfill a Trump campaign promise to impose tariffs on American imports equal to the rates that trading partners impose on American exports.

Trump’s 10% tariff on Chinese imports went into effect Tuesday, while 25% tariffs against Canada and Mexico were put on pause for 30 days amid border negotiation

Oil headed for a third weekly decline as President Donald Trump’s tariffs on China and his push for increased domestic production weighed on the demand outlook. West Texas Intermediate was steady near $71 a barrel,