US doubles tariffs on steel and aluminum imports, escalating trade tensions [Video]

Effective Wednesday, U.S. tariffs on foreign steel and aluminum doubled from 25% to 50%, escalating an ongoing trade war that is already weighing heavily on the global economy.

The new tariffs primarily impact imported steel and automobiles, further straining relations between the U.S. and its foreign trade partners.

According to the International Trade Administration, Canada remains the largest foreign supplier of steel and aluminum to the United States, making it particularly vulnerable to these trade measures.

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Some economists have also cautioned that the U.S. economy may face the largest consequences from these tariff hikes, saying it will take years to reshore manufacturing and supply chains to the U.S. The White House, meanwhile, contends tariffs will bolster American manufacturing.

Speaking last week at U.S. Steel’s Mon Valley Works-Irvin Plant in West Mifflin, Pennsylvania, President Donald Trump said the …