One of America's most storied industries is getting a massive boost from President Donald Trump's latest tariffs push — at the potential cost of a broader slowdown elsewhere in the U.S. economy.

The president has ratcheted up the rate on foreign metals to 50 percent, double the previous rate, saying the levies weren’t high enough to help the U.S. industry.

U.S. President Donald Trump has promised to hike nearly all of his tariffs on foreign steel and aluminum to a punishing 50% on Wednesday, a move that would hammer businesses from automakers to home builders,