Trump, copper and tariff
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President Trump will wield 50% copper tariffs on August 1 as he promises more to come with countries such as Brazil in the crosshairs. Nvidia scores the first $4 trillion market cap milestone, lifting the Nasdaq to a record.
Trump said on Tuesday that he would impose a 50% tariff on copper. Though the remarks were light on specifics, his comments sent the metal to all-time highs.
U.S. President Donald Trump's announcement of a proposed 50% tariff on copper imports has raised concerns in Chile and Peru, which together account for nearly 40% of global copper production.
U.S. stock futures are higher as investors eye President Donald Trump's next tariff move and minutes from the last Federal Reserve policy meeting.
2don MSN
Trump and his aides have repeatedly shifted their stance on tariffs in the weeks since the president’s “Liberation Day” announcement.
Copper and other industrial metals extended losses after US President Donald Trump injected fresh uncertainty into his trade agenda with a pledge to impose a 10% tariff on countries aligned with the BRICS bloc of nations.
As part of President Donald Trump’s “Liberation Day” efforts, Vietnamese businesses importing American goods will not have to pay taxes to import these goods. On the other hand, American businesses importing Vietnamese goods will have to pay taxes of 20% to 40%.
In letters so far to 14 countries, including smaller exporters to the United States such as Serbia, Thailand and Tunisia, Trump hinted at opportunities for additional negotiations, even while warning that reprisals would draw a like-for-like response.
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