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.

The United States imports 25 million tons of steel each year, and Canada is it main supplier, followed by Brazil and Mexico, each with products tailored to other industries like car manufacturing and construction.

The Trump administration on Wednesday said it was slapping a 25% tariff on all beer imports, adding the beverage and empty aluminum cans to a list of derivative products subject to its tariffs on aluminum.

President Trump's 25% tariff on imported vehicles and automobile parts is now in effect.

President Trump’s 25% tariffs on foreign-made automobiles took effect at 12:01 a.m. ET. The tariffs would cover finished automobiles and automotive parts, a senior administration previously said. The administration had considered exempting auto parts from the tariffs.

President Donald Trump focused on U.S.-made automobiles and the tariffs imposed by other countries on them in his reciprocal announcement.

The array of automotive parts that President Trump plans to tariff is more extensive than the industry expected, raising concerns about significant cost increases for U.S.-built vehicles. As part of Trump’s tariff announcement Wednesday,

Sales of cars picked up recently partly as buyers rushed to lock in deals before President Trump’s 25 percent tariffs on cars and auto parts go into effect.