The new titles will be written and produced by Metro UK's editorial team in London and printed and distributed by Trinity Mirror.
Metro will have a print run of 25,000 daily in Liverpool and Cardiff.
National ad sales will be handled by Metro with Trinity Mirror selling local advertising.
Georgina Harvey, Trinity Mirror's managing director of regional newspapers, said: "Following our other successful partnerships with Metro UK across Britain, we're delighted to team up once again.
"This exciting addition to our portfolio allows us to tap into an affluent, young, 'urbanite' demographic, enhancing our offering to advertisers, deepening our presence in the local markets, and opening up significant new revenue streams."
The launch in Liverpool and Cardiff will take Metro's distribution to 15 cities. Trinity Mirror has already partnered with Metro in Scotland, Newcastle and the Midlands.
Steve Auckland, managing director of Metro, said: "We're delighted to be extending our footprint even further across the UK, which comes hot on the heels of our Dublin launch.
"Trinity Mirror has always been strong advocates of the Metro proposition and our launches take place at an excellent time with the enormous development in South Wales and Liverpool."
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