Valve is always updating the Steam client. It seems every time I open it up to play a game game there is some type of update. There are normally bug fixes and other small improvements. According to Gamersbook Valve will soon be adding both a trading and gifting option to the client.
Trade Offers: This system will allow you to sent out a trade offer to other Steam users for something in their inventory for something in yours. Once an offer is recieved users will have the option to accept it, decline it, or make a counter offer. In the initial stages you will only be able to send offers to friends, but this might change in the future.
Item Gifting: This will allow you to send your in-game items and cosmetics as Gifts. This system will work much like the way game gifting works on Steam now.
These new updates will will bring a whole new trading / gifting ecosystem to Steam, what do you guys think?
Source: Gamersbook | News Archive