Trump raises steel and aluminum tariffs to 25% [Video]

President Donald Trump on Monday removed the exceptions and exemptions from his 2018 tariffs on steel, meaning that all steel imports will be taxed at a minimum of 25%. Trump also hiked his 2018 aluminum tariffs to 25% from 10%.Related video above: Trump imposes new tariffs on Chinese goods, China retaliates”We were being pummeled by both friend and foe alike,” Trump said as he signed two proclamations changing his orders during his first term. “It’s time for our great industries to come back to America.”The moves are part of an aggressive push by the president to reset global trade, with Trump saying that tax hikes on the people and companies buying foreign-made products will ultimately strengthen domestic manufacturing. But the tariffs would hit allies as the four biggest sources of steel imports are Canada, Brazil, Mexico and South Korea, according to the American Iron and Steel Institute.Trump also intends this …