President Donald Trump signed an executive order raising tariffs on steel and aluminum imports to 50% on Tuesday afternoon.

The 50% tariff on steel and aluminum takes effect at 12:01 a.m. ET on Wednesday.

FILE - President Donald Trump speaks during an event to announce new tariffs in the Rose Garden at the White House, Wednesday, April 2, 2025, in Washington. AP Photo/Mark Schiefelbein,File

The order aims to counteract low-priced foreign steel and aluminum, which the administration believes undermine U.S. manufacturers. It also aims to mitigate any potential national security threats posed by imports.

"I have determined that it is necessary to increase the previously described steel and aluminum tariffs to adjust the imports of steel and aluminum articles and their derivative artic

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