Tue. Sep 29th, 2020

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

Earlier:

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.

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