President Donald Trump signed an order Monday imposing global tariffs of 25% on all steel and aluminum imports, likely pleasing domestic steelmakers but hurting allies like Canada and Mexico.

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.

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.