It's approaching 16:00 in the London newsroom and midday in Washington. Trump is welcoming Ireland's Prime Minister, the Taoiseach Michéal Martin, at the White House after tariffs of 25% came into effect on all steel and aluminium imports to the US.

President Trump is threatening a 200% tariff on alcohol from Europe in response to the EU tariff on American-made whiskey. Mr. Trump has defended the current tariffs against allies and downplayed the recent volatility in the markets.

U.S. President Donald Trump has made numerous tariff threats since returning to office on January 20, ranging from a universal duty on imports to targeted tariffs on specific sectors or countries, in a bid to get others to meet his policy demands.