President Trump said at a rally in Pennsylvania on Friday that he is going to double tariffs on steel imports from 25% to 50%. The hike, the president said, "will even further secure the steel industry in the United States.

President Donald Trump warns of economic ruination if courts rule against his tariffs after the U.S. Court of International Trade blocks emergency import taxes.

President Donald Trump announced Friday that he would set tariffs on steel imported into the United States at 50%, double their current rate.

Shares of Australian steel producer BlueScope Steel jumped on Monday to a more than three-month high after U.S. President Donald Trump said he planned to double tariffs on imported steel.

Wells Fargo's Christopher Harvey thinks a 10% tariff could be split evenly between importers, corporations, and consumers.

Hiking tariffs could increase costs for American consumers and manufacturers of a variety of products, such as cars and homes, that use steel.

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The so-called TACO trade will be tested as markets wait to see if Trump will actually follow through with his latest threat or if he will put it on hold soon.