Effective Wednesday, U.S. tariffs on foreign steel and aluminum doubled from 25% to 50%, escalating an ongoing trade war that is already weighing heavily on the global economy.

The new tariffs primarily impact imported steel and automobiles, further straining relations between the U.S. and its foreign trade partners.

According to the International Trade Administration, Canada remains the largest foreign supplier of steel and aluminum to the United States, making it particularly vulnerable to these trade measures.

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Some economists have also cautioned that the U.S. economy may face the largest consequences from these tariff hikes, saying it will take years to reshore manufacturing and supply chains to the U.S. The White House, meanwhile, contends tariffs will bolster American manufacturing.

Speaking last week at U.S. Steel's Mon Valley Works-Irvin Plant in West Mifflin, Pennsylvania, President Donald Trump said the new tariff increase would "secure the steel industry in the United States," helping protect the jobs of domestic steel and aluminum workers.

He was attending to commemorate a deal in which Japan-based Nippon Steel committed to making a large investment in U.S. Steel.

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“The strong steel industry is not just a matter of dignity or prosperity or pride,” President Trump said. “It’s, above all, a matter of national security.”

The official details of the deal between Nippon Steel and U.S. Steel have not yet been announced. President Trump, however, has said as part of the deal, Nippon Steel will invest $14 billion and U.S. Steel's headquarters will stay in Pittsburgh.