Stocks in Asia were mostly down Tuesday, after U.S. President Donald Trump imposed 25% tariffs on all U.S. imports of steel and aluminum. Hong Kong’s Hang Seng index declined 0.62% to 21,388.49, while the Shanghai Composite dipped 0.

President Donald Trump signed an order Monday imposing global tariffs of 25% on all steel and aluminum imports in a move that will likely please domestic steelmakers but hurt allies like Canada and Mexico.

Steel and aluminum are heavily used in the automotive and construction industry, but are also used to manufacture goods and appliances. The decision mirrors the actions Trump levied during his first Administration, when he enacted a 25% tariff on steel and 10% tariff on aluminum, though some countries, including South Korea were exempt.