Trump signs executive order raising tariffs on steel and aluminum imports to 50%

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.

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 articles so that such imports will not threaten to impair the national security. In my judgment, the increased tariffs will more effectively counter foreign countries