The pain won’t just be felt by foreign steel and aluminum plants. The tariffs will likely drive up costs for American companies that use the metals, such as automakers, construction firms and beverage makers that use cans. The threats to the economy have rattled stock markets.

President Donald Trump has said he doesn’t intend to create exemptions from steel and aluminum tariffs and that additional sectoral, as well as reciprocal tariffs will be imposed on April 2.