In a major policy shift, President Trump has signed an executive order to double tariffs on steel and aluminum imports to 50%, effective immediately. This decision has been met with mixed reactions from various sectors, including concerns from the automotive industry as stocks for Ford and GM drop. While some U.S. steelmakers are poised to benefit, others warn that the increased costs could have broader implications for the economy, including higher consumer prices. The announcement, made during a rally in Pennsylvania, is expected to significantly affect international trade relationships, with the EU expressing strong regret over the U.S. decision. Analysts are cautioning that these tariffs could lead to unintended consequences, such as raising grocery prices and straining relations with trade partners like Canada and Australia.