WEST MIFFLIN, Pa. (AP) - President Donald Trump says he’s doubling the tariff rate on steel to 50%, a dramatic increase that could further push up prices for a metal used to make housing, autos and other goods.

Trump made the announcement Friday at U.S. Steel’s Mon Valley Works–Irvin Plant in West Mifflin, Pennsylvania, near Pittsburgh, where he announced investments by Japan’s Nippon Steel.

The price of steel products has increased roughly 16% since Trump became president in January, according to the government’s producer price index.

Trump later added that aluminum tariffs would also be doubled to 50% and said both tariff hikes would go into effect Wednesday.

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