The Trump administration’s broad-based tariffs on steel and aluminum imports to the U.S. went into effect this week, triggering retaliatory measures from its trading partners and sparking concerns over a trade war.

The tariffs imposed on steel exports to the US are "very disappointing", the MP for Scunthorpe has said. Donald Trump's administration has put the 25% charge on all steel and aluminium imported into the country. UK Steel director general Gareth Stace said the tariffs "couldn't come at a worse time for the UK steel industry".

Global markets have been gripped by a sense of risk aversion ever since U.S. President Donald Trump triggered a tit-for-tat tariff war between the U.S. and its trade partners, which analysts have said could stoke inflationary pressures and trigger an economic slowdown.

Canada has imposed retaliatory tariffs on almost $30 billion of US imports since President Donald Trump’s across-the-board 25% tariff on steel and aluminum took effect. Watch this report for more details!