Trump Doubles Steel and Aluminum Tariffs: UK Exempted

President Donald Trump's surprise announcement on Tuesday sent shockwaves through the global markets. In a move that had been hinted at on social media, he signed an executive order doubling tariffs on steel and aluminum imports, raising them from 25% to 50%. The new tariffs are set to take effect at 12:01 AM tomorrow. A CNBC report stated, "They say he has now signed an executive order...that raises steel and aluminum tariffs from 25% to 50%." The UK, however, is exempt from these increased tariffs due to a pre-existing agreement. This decision has the potential to significantly impact international trade relations and global markets, adding further complexity to the already volatile economic landscape. The White House has confirmed the executive order's signing.