Trump's 50% steel and aluminum tariffs go into effect

Tariffs on imports of steel and aluminum to the United States are increasing to 50% today after President Donald Trump followed through on his plan to double the duties.

Trump signed an executive order Tuesday (June 3) to increase the levies from their previous rate of 25%, saying it was necessary to protect national security and industries in the United States.

Prime Minister Mark Carney says the tariffs are both unlawful and unjustified and that Canada is intensively negotiating with the U.S. to have tariffs removed under a new economic and security deal.

The latest steel and aluminum increase doesn't apply to imports from the United Kingdom, which remain at 25% while the Trump administration works out details of a trade deal announced last month.

About a quarter of all steel used in the United States is imported and Canada is its largest supplier.

The Canadian steel and aluminum industries say doubling the tariffs will have a devastating impact while economists warn the higher tariffs could also lead to cost increases for Americans.