New Delhi, June 4 -- U.S. President Donald Trump's move to increase steel and aluminum tariffs by up to 50 percent will take effect on Wednesday and is anticipated to affect various sectors, including automakers and consumer goods.

The tariffs on steel and aluminium imports, initially set at 25 percent, were increased to 50 percent following an executive order signed by Trump late Tuesday. These duties had stayed at 25 percent since Trump's March 12 directive to eliminate exemptions on steel and raise the aluminum tariff.

"We are going to be imposing a 25% increase. We're going to bring it from 25% to 50% - the tariffs on steel into the United States of America, which will even further secure the steel industry in the United States," Tr...