President Donald Trump on Monday removed the exceptions and exemptions from his 2018 tariffs on steel, meaning that all steel imports will be taxed at a minimum of 25%. Trump also hiked his 2018 aluminum tariffs to 25% from 10%.

The 25 percent tariffs on imported steel and aluminum are the latest salvo in his ongoing effort to overhaul the U.S. trading relationship with the rest of the world.

The president imposed a 25 percent tariff on global metals, repeating a move from his first term. Economists and foreign governments know what will come next.