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,

Steel and aluminum are essential for high-rise construction, and are often cheaper to produce in countries like China, Mexico or Canada, one expert said.

President Donald Trump’s tariffs on steel are an obstacle to the oil and gas sector, companies warned this week, meaning that they are at odds with his goal of boosting domestic production. Trump’s 25% tariffs on all steel and aluminum imports went into effect earlier this month to promote the domestic steel industry.

Investors worry about the impact of Trump's import tariffs on these tech companies. The companies themselves haven't delivered terrible news specific to their businesses, but investors worry they will soon suffer as President Donald Trump's new import tariffs take hold.

The EU is planning to take countermeasures against the tariffs imposed by US President Donald Trump in the coming days. In response, the EU could impose tariffs on all US imports, ranging from toothbrushes to diamonds,

European Union countries will seek to present a united front in the coming days against U.S. President Donald Trump's tariffs, likely approving a first set of targeted countermeasures on up to $28 billion of U.

The EU’s retaliatory tariffs will hit US products including meat, wine and clothing as well as chewing gum, vacuum cleaners and toilet paper.