President Trump signed an executive order Tuesday raising the tariffs on imported steel and aluminum from 25% to 50%, effective Wednesday. The order excludes imports from the United Kingdom from the increase at least through July 9 while the two countries work out the details of a deal agreed upon in early May.

US tariffs of 50 per cent on steel and aluminium will take effect from June 4 after Donald Trump signed an executive order on Tuesday escalating his global trade war.

The executive order raises import taxes for US firms buying from other countries - but the levy remains at 25% for the UK.