President Trump announced the new tariffs Friday in what he said is an attempt to provide support to the U.S. steel industry.

U.S. President Donald Trump signed an executive order on Tuesday doubling the tariffs on steel and aluminum imports to 50 per cent, a move one Canadian industry official warned would have 'unrecoverable consequences.

President Trump signed an executive order Tuesday raising the tariffs on imported steel and aluminum from 25% to 50%, effective Wednesday. The order excludes imports from the United Kingdom from the increase at least through July 9 while the two countries work out the details of a deal agreed upon in early May.