Despite an exemption from 50 percent tariffs, Britain still faces a 25 percent duty because its trade deal with the United States has yet to be put in place.

But while American steel industry groups have hailed the tariff hike, economic experts have sounded alarms, saying it could further disrupt the already volatile global supply chai

The European Central Bank (ECB) has cut its key interest rate for the eighth time in just over a year as it warned about continuing pressure on the eurozone from Donald Trump's tariffs. The main rate has been reduced from 2.

The European Central Bank on Thursday cut its main interest rate again, citing slowing price rises. The widely anticipated move takes the ECB’s main rate to 2%, from 2.25% previously, and marks the eighth time the central bank has slashed borrowing costs since last June as inflation has tumbled from multi-decade highs.

The European Central Bank's easing cycle reached the one-year mark Thursday when policymakers delivered another interest rate cut as concerns mount about the struggling eurozone economy and global trade tensions.