European shares open lower after falls in Asia, while the gold price hits another record high.
British Steel's owner has cancelled coal and iron ore shipments to the Scunthorpe plant.
Analysts have questioned claims that new tariffs are reciprocal and based on those charged against the US.
The BBC's Nikhil Inamdar explains how US President Donald Trump's tariffs could impact India.
The UK has been hit with 10% tariffs by the US, but there is uncertainty as to the impact of them.
Donald Trump's sweeping tariffs have shaken global trade, but can India turn disruption into opportunity?