Trump tariffs live updates: US markets set to open after Trump spares UK from increased steel and aluminium tariffs

Image source, EPA

China

The White House had suggested the president will speak to Chinese leader Xi Jinping this week, raising hopes they can soothe tensions and speed up a trade deal.

However, earlier today, Trump posted on his Truth Social account, saying: “I like President XI of China, always have, and always will, but he is VERY TOUGH, AND EXTREMELY HARD TO MAKE A DEAL WITH!!!”

Asked about the remarks during a regular press briefing, Chinese foreign ministry spokesman Lin Jian said “the Chinese side’s principles and stance on developing Sino-US relations are consistent,” according to the AFP news agency.

EU

The EU trade commissioner, Maros Sefcovic, said he had a “productive and constructive discussion” with US Trade Representative Jamieson Greer today, on the margins of the OECD ministerial meetings in Paris.

“We’re advancing in the right direction at pace – and staying in close contact to maintain the momentum,” he said.

On steel and aluminium, the EU said it “strongly regrets” Trump’s plan, cautioning that it “undermines ongoing efforts to reach a negotiated solution” with the US, adding the bloc was ready to retaliate, the BBC’s US partner CBS reports.

Mexico

Economy Minister Marcelo Ebrard said Mexico is looking to request an exemption from the higher tariff.

Ebrard argued that it was “unfair” because the US exports more steel to Mexico than it imports, according to CBS.

“It makes no sense to put a tariff on a product in which you have a surplus,” he said.