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 Trump imposed a 25 percent tariff on metal imports, sparking new global trade spats as he attempts to shield the U.S. economy from foreign competition.

President Donald Trump has officially increased tariffs on all steel and aluminum imports to 25%. He has promised that the taxes will help create U.S. factory jobs at a time when his seesawing tariff threats are jolting the stock market and raising fears of an economic slowdown.