Donald Trump has hinted that the UK will know “pretty soon” whether or not tariffs on steel will increase to 50%.The president said the US wants to “make our own steel” when he faced questions from journalists on Monday.

Ontario Premier Doug Ford is continuing to call on the federal government to match U.S. tariffs on Canadian goods “dollar for dollar,” if a new trade deal isn’t reached by a Friday deadline, telling reporters that any response should also include an identical 50 per cent levy on U.

European Commission President Ursula von der Leyen and President Trump finally agreed to a trade/tariff deal with the European Union this weekend at Trump's golf club in Turnberry, Scotland. "We are agreeing that the tariff straight across for automobiles and everything else will be a straight-across tariff of 15%,

The Prime Minister will attempt to hammer out a deal on steel, and press for action on Gaza when he meets the US president in Scotland.

Trump’s statement comes a day after he announced a trade deal with the EU, which would see a 15 per cent tariff imposed on most European goods being exported to the U.S.

Steel producers like Cleveland Cliffs and Steel Dynamics both said this week that they raised prices after President Trump imposed a 50 percent tariff on imports.

Dozens of economies including India, Canada and Mexico face threats of higher tariffs Friday if they fail to strike deals with Washington. - Global tariffs - US "reciprocal" tariffs -- imposed under legally contentious emergency powers -- are due to jump from 10 percent to various steeper levels for a list of dozens of economies come August 1,

The 15% tariff would be lower than previously threatened, but it would remain a high duty on America’s largest trading partner.