Tata and British Steel tell MPs their customers are seeking alternative suppliers or asking for compensation

The UK’s two biggest steel companies have said that they have already lost customers in the US and are bracing for a flood of cheap imports after Donald Trump imposed steep metals tariffs.

The bosses of Tata Steel and British Steel on Tuesday told MPs on parliament’s business committee that customers were looking for alternative suppliers of products in order to avoid 25% tariffs on steel and aluminium that came into force last week.