Imported steel and aluminum already subject to a 25% tariff will be excluded from the new tariffs President Trump announced Wednesday. Trump last month increased and expanded the tariffs on imported steel and aluminum that he began in 2018.

Imported steel and aluminum already subject to a 25% tariff are excluded from President Trump's new levies, providing some relief for metal buyers that would have faced significantly higher prices, but the new tariffs nevertheless will raise the cost of raw materials for steelmakers that operate electric arc furnaces,

President Donald Trump imposed sweeping 25% tariffs on all steel and aluminum imported into the United States Wednesday, a policy aimed at leveling the playing field for US manufacturing but a move that threatens to drive up prices on a broad range of consumer and industrial goods for Americans.

President Donald Trump recently announced a 25% tariff on all foreign-made vehicles and their parts—including those used in U.S. assembly plants.

The impending recession, higher prices, lower wages, and economic slowdown are all consequences of Trump's ongoing trade war.