Changes to the Bank's base rate can affect mortgage and savings rates.

The president also hit India with a 50% tariff and threatened a 100% levy on foreign-made computer chips.

The Bank or England cuts its key rate to 4%, the fifth reduction since August last year.

Jingye still owns the Scunthorpe plant that was taken over by the government under emergency powers.

The EU is aiming to increase its own production of rare earth metals, led by a facility in France.