U.S. President Donald Trump signed an executive order on Tuesday doubling the tariffs on steel and aluminum imports to 50 per cent, a move one Canadian industry official warned would have "unrecoverable consequences."

The new rate will take effect at midnight, according to the order.

"Although the previously imposed steel and aluminum tariffs have helped provide critical price support in the United States market, they have not yet enabled these industries to develop and maintain the rates of capacity production utilization that are necessary for the industries' sustained health and for projected national defence needs," read the order, which was published online after global markets closed.

"I have determined that increasing the previously imposed tariffs will provide greater support

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