Harry Farley
Political correspondent

The UK government has made "extensive preparations" to be ready "for all situations", the prime minister's spokesperson says when asked about possible US tariffs on steel and aluminium.

"We're always working to put the interest of UK businesses, consumers and the economy first," he tells reporters, adding: "But I'm not going to get ahead of proposals that we haven't seen the detail of yet."

He also isn't drawn on whether the UK would retaliate with its own tariffs.

The US accounted for 5% of UK steel exports in 2023 and 6% of aluminium exports, the spokesperson says, and ministers are committed to supporting the British steel industry.

"I haven’t seen any detailed proposals following the reporting overnight, but we will obviously engage as appropriate," he adds.

Lord Mandelson is still awaiting formal recognition as the UK’s ambassador to Washington, No 10 indicates, but is able to work as the head of the British mission in the US.

We've been mentioning the impacts that new tariffs on steel and aluminium could have on key trading partners for the US - if President Donald Trump imposes them - but which countries are the US's biggest trade partners for steel?

America's neighbouring countries, Canada and Mexico, are two of the US's biggest steel trading partners, and Canada is the biggest supplier of aluminium.

If the tariffs do come into effect, they will greatly impact steelmakers in countries that trade with the US.

Canada, Brazil and Mexico were the US's top three steel trading partners last year, followed by South Korea, Vietnam and Japan.

Michael Race
Business reporter

Coal, oil and gas: Part of China's countermeasure is to announce import taxes of its own on US coal and liquefied natural gas (LNG) of 10%, and a 15% charge on crude oil.

Agricultural machinery, pick-up trucks and big cars: China has slapped a 10% tariff on them. But China is not a big importer of US pick-ups and it gets most of its cars from Europe and Japan, so it won't hit consumers too hard.

Google probe: The Chinese authorities have also announced some non-tariff measures, one of which is an anti-monopoly investigation into US tech giant Google. It's unclear what the investigation will involve, but for context, Google's search services have been blocked in China since 2010.

Image source, Getty Images

Calvin Klein added to 'unreliable entities' list: China has added PVH, the American company that owns designer brands Calvin Klein and Tommy Hilfiger, to its so-called "unreliable entity" list and accused them of "discriminatory measures against Chinese enterprises". They may face sanctions, including fines, and having the work visas of their foreign employees revoked.

Export controls on rare metals: China has mastered the ability to refine such metals, and produced almost 90% of global refined output. The restricted list includes tungsten, which is difficult to source and a crucial material for the aerospace industry.

• Read more about the trade war between the world's two biggest economies

China calls for US to stop weaponising trade issuespublished at 13:29 Greenwich Mean Time

13:29 GMT

Laura Bicker
China correspondent

Trump’s proposed 25% tariffs on steel and aluminium products heading to the United States may not have a huge impact on China.

The country is the world's largest steel producer and exporter, but very little is sent to the US.

Tariffs of 25% imposed by Trump in 2018 shut Chinese steel out of the US market - only 1.8% of imported American steel comes from China.

Beijing has cranked up production of aluminium in the last year raising fears that its excess capacity would swamp global markets.

It led President Biden to hike tariffs from 7.5% to 25%.

But again, the US is not China’s biggest customer.

Mexico was the top destination for Chinese aluminium product exports last year. Canada also bought 200,000 tonnes of the metal from China.

China’s Foreign Ministry today urged the US to “correct its erroneous approach and stop politicising and weaponising economic and trade issues" and called for dialogue.

Dearbail Jordan
Business reporter

Global stock markets are giving short shrift to Donald Trump’s latest gambit on tariffs.

Leading stock market indexes in London, Frankfurt and Paris are all trading higher today while overnight, it was only markets in South Korea and Australia that closed a little lower. In China, Japan and Hong Kong, the main indexes all finished higher.

While there is uncertainty about what Trump will do next - in terms of an announcement later in the week about reciprocal tariffs on all countries that tax imports from the US - markets "are getting a bit desensitised to Trump's tariff announcements", says Mohit Kumar, chief European economist at investment bank Jefferies.

He says: "Our view remains that they are a negotiating tool and will eventually be not as bad as feared."

Just look at what happened with Canada and Mexico last week.

Mexico, China and Canada accounted for more than 40% of imports into the US last year.

The US and its neighbouring countries, Canada and Mexico, have deeply integrated economies with an estimated $2bn (£1.6bn) worth of manufactured goods crossing their borders daily.

US car firms also have a deeply integrated industrial base,, external across the US, Mexico and Canada. Automotive parts cross those borders multiple times in the vehicle assembly process.

The graphic below shows which products will be affected:

Jonathan Josephs
Business reporter

In his latest trade threat President Trump didn’t make it clear why he’s picked out steel and aluminium specifically for tariffs – but there are clues from his first term.

Back in March 2018 these two industries were picked out as amongst the first to, as President Trump sees it, benefit from new US tariffs.

After meeting with steel and aluminium producers at the White House to listen to their concerns and announce new tariffs, he said: “We need great steelmakers, great aluminium makers for defence."

He also spoke of the need to protect jobs and rebalance trade deals that he saw as unfair. The metals' military uses range from warships and helicopters to missiles and ammunition.

At the same time, he singled out China for oversupplying the world with cheap steel which made it tough for US rivals to compete on price. It’s a claim that Beijing denies.

Despite that, Trump imposed tariffs on all imports of steel and aluminium into the US. He later went on to give some countries exemptions and allow other countries a certain amount of tariff-free exports.

Imogen James
Live reporter

Image source, Reuters

Day is breaking across America, so grab a cup of coffee and catch up with the latest on Trump's tariffs:

What's happened?

On Sunday, President Donald Trump announced 25% tariffs on all steel and aluminium imports, but it's not yet clear if they will definitely come into effect.

It's a move that has shaken the steel markets. Particularly concerned are neighbours Canada, which is the biggest exporter of the metal to the US, followed by Brazil and Mexico.

The European Union says it hasn’t received any official notification of new tariffs from the United States, and Australia's prime minister has scheduled a call with Trump to discuss.

Details still to come

When Trump announced the latest tariffs, he said he would reveal the details on Monday.

We expect to get these later today, and will bring you the key lines if we do.

The president also said later on in the week that he would reveal further reciprocal tariffs on different countries, but didn't specify which ones.

And from today, China's retaliatory tariffs to the US come into effect, targeting around $14 billion (£11.2 billion) worth of US goods.

Oliver Smith
Senior business reporter

Image source, United Cast Bar

UK steel exports to the US are limited, but there are some foundries in the UK who sell their specialist products to American customers - such as United Cast Bar, based in Chesterfield.

US exports make up around 7% of the company's turnover, and its managing director, James Brand, says: “We’re waiting with bated breath, and hoping for more detail in the next 24 to 48 hours."

UK companies can export up to 500,000 metric tons of steel to the US tariff free every year, and James also has some further exemptions because he supplies products that his American customers can’t buy in the US - but he doesn't know if they will remain.

“Last time, we managed to pass on some of these increases to our customers in America, but would they have the same appetite to accept increases again?” he says, adding: "The knock-on effect is to the American consumer and the price rises they’ll have to pay over there, because we’ll add it onto our prices from our side."

James says the company has steel products on ships heading to the US right now and they will have to "react quickly" if changes are brought in with immediate effect.

"It’s another challenge to face, and the US is a real growth market,” he adds.

Dearbail Jordan
Business reporter

UK Steel, the trade association that represents the industry, says that imposing US tariffs on British shipments "would be a devastating blow".

Gareth Stace, UK Steel's director general, points out that the US is Britain's second largest export market after the European Union.

"At a time of shrinking demand and high costs, rising protectionism globally, particularly in the US, will stifle our exports and damage over £400m worth of the steel sector’s contribution to the UK’s balance of trade," he says.

Stace adds that the government must keep trade measures in place to stop other countries dumping excess steel on the UK if they can't ship it to the US.

"The UK government must act decisively to shield our domestic industry from the fallout of rising global protectionism," he says.

Trump isn't dealing with the same China he targeted with first-term tariffspublished at 11:53 Greenwich Mean Time

11:53 GMT

Laura Bicker
China correspondent

Image source, Reuters

Trump is not dealing with the same China that he targeted with tariffs during his first term.

Beijing has been preparing for his presidency and is now less reliant on exports to the United States than it was back in 2017.

China has developed trade relationships across the Global South, Africa, Latin America and South East Asia. It is now the lead trade partner for more than 120 countries.

That may help Beijing feel it can weather a 10% tariff on its US exports – for now.

But Trump pledged to impose 60% tariffs on Chinese goods during his campaign. Officials in Beijing may fear more tariffs are on the way.

The world's second largest economy has already been hit by a number of challenges, including a property crisis, as well as weak consumer and business confidence.

President Xi Jinping may hope to avoid a US-China trade war heading to the top of that list of troubles.

In hitting back with a limited number of tariffs, Beijing is standing up to Washington, but it is also saying – let’s talk.

What impact did Trump's steel tariffs have last time?published at 11:40 Greenwich Mean Time

11:40 GMT

By Ben Chu

It’s not President Trump’s first time putting tariffs on steel – in 2018 he imposed 25% tariffs on imported steel to protect US producers.

By 2020, total employment in the US steel sector was 80,000, external, still lower than the 84,000 it had been in 2018.

It is theoretically possible that employment might have dropped even further without the tariffs, but detailed economic studies, external of their impact on US steel showed no positive employment impact.

And economists have also found evidence that - because the domestic price of steel rose after the tariffs were imposed - employment in some other US manufacturing sectors that use a lot of steel was lower than it otherwise would have been, external.

• For more on this story, we have this on the impact tariffs may have on US consumers

Jonathan Josephs
Business reporter

The European Union says it hasn’t received any official notification of new tariffs from the United States.

This comes after President Trump said he would announce new taxes on all steel and aluminium imports.

In its statement, the European Commission said it sees “no justification” for any such tariffs on its exports, and added: “We will react to protect the interests of European businesses, workers and consumers from unjustified measures.”

As things stand, EU steel and aluminium shipments to the US are already set to face an increase in tariffs come the end of March.

That’s because just over a year ago President Biden agreed a deal to suspend tariffs that were imposed in Trump’s first term - but that's due to run out.

If nothing is done that will also mean tariffs on a range of US goods including Harley Davidson motorcycles, jeans and bourbon whiskey come back into force.

Laura Bicker
China correspondent

Last week, Trump brought in a 10% tariff on all Chinese imports, and today China brings a host of retaliatory measures into force.

It is targeting around $14 billion (£11.2 billion) worth of US goods, triggering fears that the world’s two largest countries are on the brink of a trade war.

China has imposed tariffs of 15% on US coal and liquified natural gas, and 10% on coal, crude oil and farm equipment as well as some large-engine cars.

But this is not a heavy blow to American firms and the impact will be limited. This appears to be a calculated move by Beijing to hit back, but in a way that it keeps the door open for President Xi to negotiate with Trump.

The White House suggested last week there would be a phone call between the two leaders, but Trump later said he was in “no rush” to speak to the Chinese president.

China’s Foreign Ministry warned Washington once again today that there are no winners in a trade war and “what is needed now is not the unilateral imposition of tariffs, but rather dialogue and negotiation".

In other words – China is ready to talk.

Image source, Getty Images

In case you need a reminder, here are the tariffs Trump has announced since the start of his second term as president:

On Tuesday, Chinese imports to the US were hit with 10% tariffs. Beijing retaliated with tit-for-tat levies on US goods, including a 15% border tax on imports of coal and liquefied natural gas products and a 10% tariff on crude oil, large-engine cars and agricultural machinery.

The president also threatened Canada and Mexico with 25% tariffs, but has agreed to hold off on implementing them for 30 days after talks.

Now, Trump is set to introduce a 25% import tax on all steel and aluminium entering the US, saying onboard Air Force One that these would be for "everyone".

In the early days of his presidency, Trump told the BBC that tariffs on EU goods could happen “pretty soon”, but that a deal could be worked out with the UK.

Dearbail Jordan
Business reporter

Image source, Getty Images

The biggest exporters of steel to the US can be found to its north and south - Canada is by far the largest.

In 2024, according to the American Iron and Steel Institute, Canada exported 6.6 millions tonnes to the US.

That is followed by Brazil at 4.5 million tonnes and then Mexico, which sent 3.5 million tonnes of steel to the US last year.

China is right down the list, in 10th place with 508,000 tonnes, which is perhaps not surprising since Trump imposed tariffs on Chinese steel during his first term and border taxes were kept in place by Joe Biden.

And, if you’re really interested in the minutiae, the institute says the biggest steel products imported into the US in 2024 were “blooms, billets and slabs”.

That might sound like a cheesy hip-hop combo from the 90s but they are, in fact, a kind of in-between semi-finished product - so a “bloom” is a piece of steel that can be rectangular in shape and is used to make things like rails.

Dearbail Jordan
Business reporter

A tariff is basically a tax that is added to a product when it enters a country. Tariffs are paid by the company buying the product – not the overseas business that is selling the product.

The tariff charged is proportional to the value of the imported goods. So, for example, if a roll of steel worth $50,000 (£40,327) with a 25% tariff is imported into the US, the American company buying the steel would pay an additional $12,500.

In that sense, it is a straightforward tax that is paid by an American company to the US government.

Theo Leggett
International business correspondent

Steel production in the US is heavily politicised. National security is often cited as a reason for protecting the industry from foreign competition.

The US, so the argument goes, needs to be capable of producing enough high quality steel to supply its military in the event of a national emergency without relying on imports.

That argument has been enthusiastically embraced by unions, anxious to protect the jobs of tens of thousands of workers across the Rust Belt in the Midwest and northeastern states.

It was cited by former President Joe Biden in December as a reason for blocking the takeover of US Steel, something of a fallen giant in the industry, by the Japanese firm Nippon Steel.

By targeting steel (and aluminium) imports, the Trump administration may feel it can put pressure on trading partners while winning useful political capital at home.

But it is a risky strategy. Not only would these tariffs be likely to push up prices for a range of products dependent on foreign steel, fuelling inflation, they could also lead to retaliation from other countries – potentially hurting US exporters.

Imogen James
Live reporter

As America begins to stir, we're expecting President Donald Trump to introduce levies on all steel and aluminium entering the country - a move that will have the biggest impact on Canada.

It's the latest in 10 days of tariff announcements from the president, who says he will unveil a series of new levies later in the week - although he did not specify which countries will be targeted.

Speaking aboard Air Force One, Trump said he would announce the steel and aluminium tariffs on "everybody". He told reporters: "If they charge us, we charge them."

The announcement follows China's introduction of tit-for-tat import taxes on some American goods.

Chinese government spokesperson Guo Jiakun said: "There are no winners in a trade war or tariff battle. What is harmed are the interests of the people of both countries."

The tariffs that started this all off, 25% against Canadian and Mexican products, have been delayed until early March, following talks.

Stick with us for the latest news, analysis and reaction throughout the day, from our teams in London and the US.

Image source, Getty Images

Donald Trump had already secured headlines today by becoming the first sitting US president to attend the Super Bowl.

When his plane touched down in New Orleans ahead of the game, journalists travelling onboard Air Force One began reporting that the president would be announcing fresh tariffs on all steel and aluminium imports starting Monday.

He did not specify which countries would be targeted by the 25% tariffs, but Ontario's Doug Ford - who leads the Canadian province that is the beating heart of their steel industry - was quick to point out that it would be America's northern neighbours who would once again be feeling the levy pain.

Details are sparse, and Trump also said he plans to impose "reciprocal tariffs" on all countries shortly - and they could be coming into effect "almost immediately".

"Very simply, it's if they charge us, we charge them," Trump said.

We'll bring you updates on this developing story tomorrow, when the president said he would officially unveil them.

• You can read more about today's US politics here: Trump defends Musk and says Doge will look at military spending
• And you can follow our live Super Bowl coverage here.