Trump vows steep copper tariffs, broadens trade war
When US President Donald Trump announced a 50 percent tariff in imported copper, he expanded the global trade war and said that long -threatened taxes on semiconductors and drugs will soon come.
One day after sharply printing 14 trade partners, including US suppliers such as South Korea and Japan, Trump reiterated a 10 percent threat to products from other members of other members of Brazil, India and BRICS.
He also said that on Tuesday, trade talks with the European Union and China went well, but only a few days away from sending a tariff letter to the EU.
Trump’s words during a White House cabinet meeting may inject more instability to a global economy shaken by tariffs that I import or threaten to imports into the world’s largest consumer market.
The US copper futures increased more than 10 percent after Trump announced new tasks on a metal that is critical for electric vehicles, military equipment, power network and many consumer goods.
Steel, aluminum and car imports would already participate in existing tasks. US pharmaceutical stocks, Trump’s 200 percent of drug imports after the threat of tariff threats from the highest levels of the day and said it may be delayed for about one year.
In the meantime, other countries, Wednesday, August 1, after returning to August 1, Trump’s threat of threatening tasks will try to soften the impact, he said.
In early April, the Trump administration promised “90 agreements in 90 days after 90 days. So far, only two agreements have been reached with England and Vietnam. Trump said that an agreement with India was close.
Trump said countries invaded to negotiate.
“It is time to laugh behind us that the United States began to collect money from the torn countries and how stupid we are,” he said.
Trump’s management offers these tariffs as an important source of income. Treasury Secretary Scott Bessent said Washington has received about $ 100 billion (A153 billion dollars) so far and could reach US $ 300 billion (A460 billion) by the end of the year.
The United States has recently received approximately 80 billion dollars (A123 billion dollars) a year with tariff revenue in recent years.
Global markets did not significantly respond to the latest tariff bending after months of turmoil.
Trump, the US for export to the United States within two days to say to the European Union “probably” to say, and the 27 -member block in the trade talks “very beautiful” he added, he added.
According to EU sources, the EU, the largest US trade partner in the US, aims to make an agreement by compromising on some key export industries such as aircraft, medical equipment and souls before August 1st.
Japan, which is facing a possible 25 percent tariff, wants concessions for the big automobile industry and the highest -level trade negotiator Ryoosi Akazawa said on Tuesday, a strong indigenous lobby for an early agreement.
Washington and Beijing accepted a trade framework in June, but many of the details are still uncertain, traders and investors watching whether the US has not separated before August 12 or has opened a permanent circuit.
“Recently, we had a really good relationship with China and we get along very well with them. To be honest, they are very fair in our trade agreement, Tr Trump said, Chinese President Xi Jinping, he added that he regularly spoke with Xi Jinping.
Trump would apply 25 percent tariffs to goods from Tunisia, Malaysia and Kazakhstan, and with 30 percent taxes in South Africa, Bosnia and Herzegovina, 32 percent in Indonesia, 35 percent in Serbian and Bangladesh, 36 percent in Cambily and Thhailand and 36 percent in Laos and 40 percent in Myantic.
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