Trump Slaps 50% Tariffs on Copper Imports and Brazilian Goods: August 1 Deadline
President Trump announced a 50% tariff on US copper imports and a 50% duty on goods from Brazil, effective August 1st. The copper tariff, justified under Section 232 national security concerns, aims to bolster the domestic copper industry crucial for semiconductors, aircraft, and electric vehicles. The Brazil tariff escalation, reaching 50% from 10%, follows Trump's criticism of the Brazilian government. This action intensifies the ongoing trade war and could significantly impact global markets
Trump Announces 50% Tariff on Copper Imports, Effective August 1, 2025, Citing National Security Concerns. The Section 232 investigation into copper, deemed a critical material for semiconductors, aircraft, electric vehicles, and military hardware, led to this decision. This significant tariff follows a robust national security assessment and aims to revitalize the American copper industry, creating a dominant U.S. presence in the global market
President Trump announced a 50% tariff on Brazilian goods, effective August 1st, escalating tensions between the two nations. This follows a similar 50% tariff on U.S. copper imports, citing national security concerns, and represents a dramatic increase from the previous 10% reciprocal tariff with Brazil. The move is surprising given the historically balanced trade relationship between the U.S. and Brazil
Trump's surprise 50% tariff on copper imports, effective August 1, 2025, sparked a rush to import copper from Chile and other key suppliers. The announcement, following a Tuesday cabinet meeting discussion and a Section 232 national security investigation, aims to revitalize the American copper industry, crucial for semiconductors, aircraft, electric vehicles, and military applications. This aggressive trade action follows a similar 50% tariff on Brazilian goods
Trump blamed previous administrations for the decline of the American copper industry, highlighting copper's critical role in vital sectors: semiconductors, aircraft manufacturing, electric vehicle batteries, and military applications. This underscored his justification for the new 50% tariff on imported copper, prioritizing national security and the revitalization of a dominant U.S. copper industry
Trump's 50% Tariff on Copper Imports Aims to Resurrect American Industry: A National Security-Driven Move. The President cited the need for copper in vital sectors like semiconductors, electric vehicles, and military hardware, declaring his intention to rebuild a dominant U.S. copper industry. This Section 232 tariff, effective August 1, 2025, follows a national security assessment and is part of a broader trade offensive
Trump Imposes 50% Tariff on Brazil, Citing Bolsonaro "Witch Hunt" and Free Speech Concerns. The new tariff, effective August 1st, escalates the bitter feud between Trump and Brazilian President Lula da Silva, following accusations of election interference and censorship. This Section 301 investigation could lead to further trade restrictions
Trump Slams Brazil with 50% Tariffs, Launches Section 301 Investigation: Citing attacks on free speech, elections, and unlawful censorship of US social media, President Trump imposed a 50% tariff on Brazilian goods and initiated a Section 301 investigation into unfair trade practices. This action follows a new 50% tariff on copper imports, justified on national security grounds. The escalating trade war with Brazil includes accusations of secret censorship orders targeting American digital trade activities, potentially leading to further tariff increases
Brazil's Lula vows retaliatory action against Trump's new 50% tariffs, citing Brazilian law in response to the increased duties on Brazilian goods and the escalating trade war between the U.S. and Brazil
Former U.S. trade official and Council on Foreign Relations expert Brad Setser warns that Trump's new tariffs on copper and Brazilian goods could escalate into a damaging trade war between the U.S. and Brazil
Trump's unilateral tariff power, a 50% levy on Brazilian goods and copper, highlights the risks of concentrated trade authority. This action, linked to Lula's election victory over Bolsonaro, underscores concerns about the politicization of US trade policy
Despite $92 billion in bilateral trade in 2024 and a significant US trade surplus of $7.4 billion, the US imposed a 50% tariff on Brazilian goods, escalating trade tensions between the two nations
US-Brazil Trade: Key Exports & Tariffs. The United States primarily exports commercial aircraft, petroleum (crude oil & products), coal, and semiconductors to Brazil. Conversely, Brazil's top exports to the U.S. include crude oil, coffee, semi-finished steel, and pig iron. This trade relationship is currently impacted by significant new tariffs
Brazil Delays Digital Services Tax Amid Stronger Competition Rules for Digital Platforms
Trump's August 1 Tariff Hikes Target Minor Trading Partners: A 20% tariff on Philippine goods, 30% on imports from Sri Lanka, Algeria, Iraq, and Libya, and 25% on goods from Brunei and Moldova, impacting $15 billion in annual U.S. imports. This follows his announcement of a 50% tariff on copper and a 50% increase on Brazilian imports
The latest letters add to 14 others issued earlier in the week including 25% tariffs for powerhouse U.S. suppliers South Korea and Japan, which are also to take effect August 1 barring any trade deals reached before then.
They were issued a day after Trump said he was broadening his trade war by imposing a 50% tariff on imported copper and would soon introduce long-threatened levies on semiconductors and pharmaceuticals. Trump’s rapid-fire tariff moves have cast a shadow over the global economic outlook, paralyzing business decision-making.
NEGOTIATIONS WITH THE EU
As more tariff drama unfolded in Washington, U.S. and European Union negotiators pushed closer to a trade deal to ease Trump’s tariffs on the biggest bilateral U.S. trading partner bloc.
Trump said he would “probably” tell the EU within two days what rate it could expect for its exports to the U.S., adding that the 27-nation bloc had become much more cooperative.
EU trade chief Maros Sefcovic said good progress had been made on a framework trade agreement and a deal may even be possible within days.
Sefcovic told EU lawmakers he hoped that EU negotiators could finalise their work soon, with additional time now from the extension of a U.S. deadline to August 1 from July 9.
“I hope to reach a satisfactory conclusion, potentially even in the coming days,” Sefcovic said.
However, Italian Economy Minister Giancarlo Giorgetti had earlier warned that talks between the two sides were “very complicated” and could continue right up to the deadline.
EU officials and auto industry sources said that U.S. and EU negotiators were discussing a range of potential measures aimed at protecting the European Union’s auto industry, including tariff cuts, import quotas and credits against the value of EU automakers’ U.S. exports.
HIGHEST TARIFF LEVELS SINCE 1934
Equity markets shrugged off the Republican president’s latest tariff salvo on Wednesday, while the yen remained on the back foot after the levies imposed on Japan.
Following Trump’s announcement of higher tariffs for imports from the 14 countries, U.S. research group Yale Budget Lab estimated consumers face an effective U.S. tariff rate of 17.6%, up from 15.8% previously and the highest in nine decades.
Trump’s administration has been touting those tariffs as a significant revenue source. Treasury Secretary Scott Bessent said Washington has taken in about $100 billion so far and could collect $300 billion by the end of the year. The United States has taken in about $80 billion annually in tariff revenue in recent years.
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The Trump administration promised “90 deals in 90 days” after he unveiled an array of country-specific duties in early April. So far, only two agreements have been reached, with Britain and Vietnam. Trump has said a deal with India was close.
(Reporting by Julia Payne, Charlotte Van Campenhout, Philip Blenkinsop, Trevor Hunnicutt, Dan Burns; Writing by Keith Weir and David Lawder; Editing by Alex Richardson, Deepa Babington and Diane Craft)
Source: Original Article