Trump announced at a Pennsylvania rally on Friday that he plans to double tariffs on steel imports to 50% from 25%.

By Polina Devitt LONDON (Reuters) -Premiums for consumers buying aluminium on the physical market in the United States soared on Monday after U.S. President Donald Trump said he planned to increase tariffs on imported steel and aluminium to 50% from 25%.

Futures tracking the prices US manufacturers pay for aluminum and steel surged after President Donald Trump said he will double tariffs on the metals this week.

China on Monday accused the United States of breaching the 90-day trade truce agreed by the world’s two largest economies, after President Donald Trump said it was Beijing that had “totally violated” the agreement.

Breaking overnight, trade tensions with China escalating again, three weeks after both countries agreed to slash tariffs on each other by 115% for 90 days. China says the U.S. has seriously violated the trade truce in several ways.