Rolling coverage of the latest economic and financial news, including new PMI surveys of the world’s manufacturingLatest: Trump imposes tariffs on Brazil and ArgentinaAlso urges Fed to weaken the dollarEarlier:UK factories slash jobsChina’s factory growth hits three-year highBut Ireland cuts jobs as exports fallComing up: Christine Lagarde at European Parliament 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. 1.35pm GMT Shares in Brazilian steel-makers are falling as trading gets underway in São Paulo. São Paulo-based Gerdau are the biggest faller, down 1.5%, followed by Usiminas, which dropped over 1%. Both companies run major steel mills in Brazil, and could suffer once new tariffs are imposed at the US border. Continue reading…
Via: Donald Trump hits Brazil and Argentina with steel and aluminium tariffs – business live
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PIERS MORGAN: A phone call I received from a fired-up Trump should be a warning to Democrats
President Trump called me for a chat on Saturday. It was our first conversation since he unfollowed me on Twitter in April after I wrote a Mail column telling him to ‘Shut the f*ck up Read more…