That’s about to double. In a proclamation issued Tuesday, Trump confirmed that the U.S. will begin taxing nearly all steel and aluminum imports at 50% after the clock strikes midnight Wednesday. Steel and aluminum from the U.K., meanwhile, will continue to be levied at 25% due to a recent trade deal.

U.S. tariffs on steel and aluminum imports doubled on Wednesday, as President Donald Trump continued to ratchet up levies on foreign metals that he claims will help revitalize American steel mills and aluminum smelters.

U.S. tariffs are in the spotlight once again in Europe as President Donald Trump's 50% levy on steel and aluminum imports came into effect Wednesday.

President Donald Trump is using his love of tariffs to threaten high-profile American companies. Over the past month, Trump has said he’d like to target two specific and very different companies — Apple and Mattel — with tariffs aimed at their key products over comments by their CEOs.

Economic growth will slow this year and next as the trade war hampers development in the United States and around the world, the Organization for Economic Cooperation and Development said.

Donald Trump’s combative trade policies have tipped the world economy into a downturn, with the US among the hardest hit, the OECD said.