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Key Highlights

Trump raises tariffs on imported steel and aluminum to 50%

Tariffs affect autos, home goods, groceries and construction

UK remains exempt at 25% due to recent trade agreement

Industry groups warn higher prices could hit U.S. consumers

NEW YORK (AP) — U.S. President Donald Trump hiked nearly all of his tariffs on steel and aluminum imports to a punishing 50% on Wednesday in a move that’s set to hammer businesses from automakers to home builders, and likely push up prices for consumers even further.

Foreign-made steel and aluminum is used in household products like soup cans and paper clips, as well as big-ticket items like a stainless-steel refrigerators and cars. Economists warn that such heightened levies could significantly squeeze

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