Donald Trump hits Brazil and Argentina with steel and aluminium tariffs – business live
Rolling coverage of the latest economic and financial news, including new PMI surveys of the world’s manufacturing
- Latest: Trump imposes tariffs on Brazil and Argentina
- Also urges Fed to weaken the dollar
Earlier:
- UK factories slash jobs
- China’s factory growth hits three-year high
- But Ireland cuts jobs as exports fall
- Coming up: Christine Lagarde at European Parliament
1.59pm GMT
Shares in US steel makers are up in pre-market trading, as they should benefit from tariffs on foreign rivals.
(X.N AKS.N) 02 Dec – 08:54:01 AM – SHARES OF U.S. STEEL COMPANIES UP PREMARKET AFTER TRUMP SAYS WILL RESTORE TARIFFS ON ALL STEEL & ALUMINUM SHIPPED INTO U.S FROM BRAZIL, ARGENTINA – [RTRS] (trump trying to bailout US Steel shares as they’ve collapsed in last several yrs)
1.46pm GMT
European stock markets have dropped into the red since Trump’s tweets hit the wires, erasing their earlier gains.
The German DAX is leading the selloff, down 0.7%, while the UK’s FTSE 100 has lost 0.3% or 24 points.
Editor
