The big news this week was Trump’s steel and aluminium import tariffs. It had an overall positive impact on US stock markets as Canada and Mexico were excluded from the tariffs.

The main focus of investors is on the tariffs and the question for the market is what these tariffs mean in terms of their economic impact.

The tariffs signed by Trump will take effect in two weeks and will exempt Canada and Mexico indefinitely. The move puts a 10% charge on aluminium and 25% charge on steel.

Trump said a strong steel and aluminium industry is vital to US national security and he added that if "you don't have steel, you don't have a country".

The announcement last week sparked fears that a trade war could take place in the near future.

Ireland

At home, shares in Glanbia recovered slightly this week and traded at €14.70 on Friday. Shares in Greencore were up 5%, at around £1.84 on Friday. FBD shares also continue to soar ahead and hit three-year highs again this week of €12.60. Aryzta shares were up around 5% to €20.50 in Friday’s trade. Kerry shares were relatively flat over the week and trading at around €81.20 on Friday.

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