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On tariffs, the EU is in the firing line, but the UK is spared for now. Good morning. This is the Marketplace Morning Report, and we're live from the BBC World Service. I'm Leanna Byrne. So we start with the latest escalation in the global trade dispute. The United States has double tariffs and nearly all imported steel and aluminium,

jumping from 25% to 50%. The stakes are high, though. Around a quarter of all steel and half of all

aluminium used in the US is imported. The BBC's Katie Silver has the details.

There has been shock amongst American steel and aluminium importers that is actually

going ahead. We've spoken to a number of them, but there are thoughts that the new tariffs could

indeed provoke retaliation from some of America's biggest trading partners. Now, the US, according

to White House estimates, is the biggest importer of steel in the world that comes after the European

Union and it sources most of the metal

from the likes of Canada, Brazil, Mexico and South Korea. Now, it was something, this trade

deficit was something that President Trump was trying to correct for on his first term in office

with tariffs, but the trouble was many nations managed to avoid them by striking bilateral deals.

In March, he said that he does not want to see this happen a second time.

And therefore, when he made this announcement last week,

he said he wanted to make the tariff so high that 50% range

that US businesses would have no alternative but to buy from American suppliers.

So far, it seems, the tariffs are reducing imports, according to data,

but not yet driving up production.

So that's going to be one of the big challenges is how you can make steel affordable when you have US costs and US labour costs and all of those sorts of things.

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