President Donald Trump’s sweeping 25% tariffs on steel and aluminum from all countries, announced Monday night, may not end up meaning much for consumers and the prices they pay, depending on how they are applied.

Mexico, Canada and the European Union on Tuesday condemned U.S. President Donald Trump's decision to impose tariffs on all steel and aluminum imports next month, a move that has fanned fears of a trade war as business and political leaders braced for yet more trade duty announcements from the new administration.