Trump’s tariffs on all steel and aluminum imports go into effect [Video]

President Donald Trump officially increased tariffs on all steel and aluminum imports to 25% on Wednesday, promising that the taxes would help create U.S. factory jobs at a time when his seesawing tariff threats are jolting the stock market and raising fears of an economic slowdown.Related video above: President reverses course on 50% Canadian tariffsTrump removed all exemptions from his 2018 tariffs on the metals, in addition to increasing the tariffs on aluminum from 10%. His moves, based off a February directive, are part of a broader effort to disrupt and transform global commerce. The U.S. president has separate tariffs on Canada, Mexico and China, with plans to also tax imports from the European Union, Brazil and South Korea by charging “reciprocal” rates starting on April 2.The EU announced its own countermeasures on Wednesday. European Commission President Ursula von der Leyen said that as the United States was “applying tariffs …