Britain reprieved from Trump’s steel tariff

Donald Trump’s steel tariff will not apply to Britain and other EU nations after they were granted a temporary exemption, his top trade official said. It follows fierce lobbying and threats of retaliation from EU leaders since tariffs of 25pc on steel imports and 10pc on aluminium were announced.

The comments, however, failed to assuage market fears of a trade war as Mr Trump, in a separate move, announced at least $50bn (£35bn) of new tariffs on China.

Business, page 1