LONDON (Reuters) -Premiums for consumers buying aluminium on the physical market in the United States hit a record 60 cents a lb or $1,323 a metric ton on Thursday after U.S. President Donald Trump imposed higher tariffs on U.

US tariffs of 50 per cent on steel and aluminium will take effect from June 4 after Donald Trump signed an executive order on Tuesday escalating his global trade war a week after a court ruled the bulk of his levies illegal.

Donald Trump's increased tariffs on steel and aluminium products imported into the United States are now in effect, meaning foreign importers face 50 per cent levies on top of their current costs.