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Hello from CNN. I'm Joe Beck, with the five things you need to know for Wednesday, March 12th.

President Donald Trump has imposed a sweeping 25% tariff on all steel and aluminum imported into the U.S.

It's the latest duty to come into effect as part of Trump's plan to counteract what he calls

unfair trade agreements.

He told business leaders he also wants to encourage more American manufacturing.

Look, the higher it goes, the more likely it is they're going to build.

And ultimately, the biggest win is not the tariff.

That's a big win.

That's a lot of money.

But the biggest win is if they move into our country and produce

jobs, that's a bigger win than the tariffs themselves. But economists warned that these tariffs

will drive up prices and lead to costly trade wars. Trump had been threatening to add even

more duties for Canadian steel and aluminum, after Ontario leader Doug Ford said he would charge U.S. customers more

for electricity. Both men have since backed down.

We'll take this off for now to the Russians, and we hope that they'll say yes, that they'll say yes

to peace. The ball is now in their court. That was U.S. Secretary of State's Marco Rubio,

speaking after Ukraine signed up to the U.S.'s

...