The president signed an order on Monday imposing 25 percent tariffs on imports of steel and aluminum to the US, CNN reports. The president had said on Sunday that he planned to announce the tariffs. [Link: Trump imposes 25% tariffs on steel and aluminum | CNN Politics | | cnn.

US tariffs on Australian steel and aluminium would have minimal direct impacts, but weakened Chinese demand for goods like iron ore could hit economic growth.

President Donald Trump acknowledged that consumers could soon feel the financial burn of his economic plan, which includes sweeping tariffs on Canada, Mexico and China. The revelation came Monday as Trump’s 40-minute-long Super Bowl night sit-down with Fox News host Brett Baier aired.