UK Steel says Trump has ‘taken a sledgehammer’ to free trade with new tariffs; Bank of England’s Mann sees inflation threat easing – business live | International trade

communityThe Steel Manufacturing Union urges the government to bring new guarantees to prevent cheap foreign steel.

Air MacDarramide, society The Assistant Secretary -General says:

“The new tariff confirmed by Donald Trump is a great cause of concern, and it is a step back to the steel and economies on both sides of the Atlantic.

“There is now a greater need for comprehensive guarantees to protect our local steel from the cheap outside steel imports.”

The United Kingdom’s steel sector fears that Donald Trump’s new tariff will disrupt global trade, and lead to an increase in foreign steel to Britain – which may harm the local industry.

Gareth Stas, Director General of the Commercial Authority British steel, He says:

President Trump has taken a heavy hammer for free trade with tremendous repercussions of the United Kingdom’s steel sector and around the world.

These British exports to the United States will not only hinder the United States, but will also have significantly distorted effects on international trade flows, adding more import pressure to our market.

Stac He insists that British steel is not a threat to American national security, and it is actually vital to the American industry:

Our high -quality products serve the main American industries, many of which cannot source locally. This is a moment when our countries should work together to address excessive global steel production, not in Loggerheads. The UK stands with the United States on addressing the surplus ability of global steel and unfair trade, and urged our UK government to take stronger measures on these issues.

This is clear that this is a new era for global trade. We are confident that the UK government is aware of the impact on our industry and will explore all available options. Each of the immediate responses, such as negotiating long -term solution and measures to prevent harmful trade to the UK market, are options. “

Canadian Prime Minister Justin Trudeau He said that day Canada You will seek to highlight the negative impact of steel and aluminum definitions in the United States and this – if necessary – the response of Canada will be firm and clear, according to Reuters reports.

Speaking on the sidelines of the main artificial intelligence summit in Paris today, Trudeau He says:

“Canadians will stand strongly and firmly if we need it.”

Trudeau He also described the new definitions as “unacceptable”.

Catherine Man, a policy maker at the Bank of England, explains why she voted to reduce half a point in interest rates last week, in a letter in Leeds.

Mine The University of Leeds Picky tells that its “activist” strategy requires an invitation to a significant reduction in borrowing, to reduce noise.

[reminder: Mann and fellow policymaker Swati Dhingra were outvoted 7-2, with the majority at the Bank choosing a smaller rate cut]

Eching the point it raises Interview with FT today, Mine He says:

In conclusion, as an active policy maker, I chose 50 basis points now, in addition to the continued restrictions in the future, and a long -term bank rate

1) “noise pieces”,

2) Expectations anchor through inflation hump, and

3) Acknowledging the structural obstacles and fluctuating the macroeconomic in the long run.

The European Union has pledged to respond firmly to the “unjustified” definitions imposed by the United States, a step threatening to stir a commercial war.

In a statement issued yet Donald Trump It signed the customs duties by 25 % on the tariffs of steel, aluminum, European Commission president Ursula Von monastery Line He says:

I strongly regret the US decision to impose a tariff on European steel exports and aluminum.

Definitions are taxes – bad for work, worse for consumers.

Unjustified customs tariffs will not be answered on the European Union – it will lead to proportional and proportional counter measures.

The European Union will work to protect its economic interests. We will protect our workers, companies and consumers.

Separately, European Union Trade Commissioner Maros Sefcovic The European Parliament told this morning that the customs tariff is a loss scenario.

Sefcovic He also argued that the new fees on aluminum and steel imports are bad for companies and the worst for consumers, Reuters reports, will raise costs and nurture inflation in the United States.

European stock markets began a silent start in trading, but this did not stop the blue stock index in the United Kingdom to reach another record.

In London foot 100 The stock index got 0.25 % or 22 points to 8,789 points, which exceeded yesterday’s record, with the arms product My friend Systems (+1.1 %) Among the senior risers.

France Cac 40 It rose 0.17 % while Germany Laxative flat.

Unlike the Whipsaw experience last week on the customs tariff, where the origins of the risk were sold and then recovered, the market’s reaction has so far been somewhat silent, he says sign HayeviSenior Investment officials in UBS global wealth management.

UBS It indicates:

The CBOE VIX index of US -improved fluctuations remains defeated at 15.8 points, within its lowest level in 2025. Gold attracted more bids, and a 2.6 % mobilization during the past two sessions to a record level of $ 2,942/ounces.

With investors follow more than a relief approach, Hayevi Make many notes:

• It is not possible to easily negotiate commercial imbalances.

• It is also important to distinguish between different tariff categories.

• Mineral definitions may be negotiating influence.

• There are other partners who have higher obstacles in front of American goods on notice.

He adds:

“Despite the high risk of customs tariffs, we still expect to provide a solid American economy, a self -rear economy, and gradual discounts in the Federal Reserve rate is a favorable background for shares. We still expect the S&P 500 to end the highest year.”