President Donald Trump has imposed a blanket 25% tariff on steel and aluminum entering the U.S.

Bloomberg reported that the tariffs are being broadly imposed, applying to imports from allies such as the EU, Canada and Mexico and to finished metal products. The action drew applause from the Steel Manufacturers Association (SMA), which said that Trump clearly understands that America’s steel industry is the backbone of its economy.

Source: Trump Promises Tariffs on Imported Steel, Aluminum – Association for Iron & Steel Technology