Global trade war is about to escalate? Trump wants to double the tariffs on steel and aluminum to 50%.

According to the Wisdom Financial APP, US President Donald Trump announced on Friday local time that he plans to significantly increase tariffs on steel and aluminum from the previous and already effective rate of 25% to 50% while visiting a US Steel Corp. factory that is set to be acquired by Japanese steel industry giant Nippon Steel. He stated that this move will help protect American workers.