Investors await developments after US imposes steel and aluminium tariffs, with Spanish confidence vote and US non-farm payrolls in spotlight

Former White House Press Secretary Anthony Scaramucci said there was still room for negotiation. He said President Trump’s action was a measure to correct the uneven and unbalanced trade system. He told Radio 4:

If you need to put up protective tariffs to protect your farming industry or parts of your industrial base, the United States is just basically saying ‘okay that’s not fair to us because we’re accepting your goods and services into our country’.

You’ve got to give us an opportunity to compete in your country.

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Back with the US move on steel and aluminium, and Gareth Stace, from trade body UK Steel, told BBC Radio Five Live that the US tariffs were “illegal and protectionist.” He added:

This unilateral decision beggars belief. It is the last thing we need given that we are coming out of the worst steel crisis in a generation.

Twenty to twenty five million tonnes could flood our market.

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