Shares of steel and aluminum producers tumbled across the board post-market Wednesday following President Trump's tariff announcement, even as The White House said steel and aluminum imports would be exempt from reciprocal tariffs.

Imported steel, aluminum already subject to a 25% tariff will be excluded from the new tariffs President Trump announced Wednesday. Trump last month increased and expanded the tariffs on imported steel and aluminum that he began in 2018.

The Trump administration on Wednesday said it was slapping a 25% tariff on all beer imports, adding the beverage and empty aluminum cans to a list of derivative products subject to its tariffs on aluminum.