US president says 25% tariffs on steel and aluminium imports to be introduced this week as Chinese tariffs come into effect

• Trump to announce 25% aluminum and steel tariffs as China’s levies against US come into effect

European stock markets have opened fairly calmly, despite the latest tariff threat lobbed by Donald Trump from Air Force One yesterday.

In London, the FTSE 100 share index has risen by 0.2% or 16 points to 8716 points.

There could be a problem - you’ve been reading about that, with Treasuries and that could be an interesting problem.”

“It could be that a lot of those things don’t count. In other words, that some of that stuff that we’re finding is very fraudulent, therefore maybe we have less debt than we thought.”