Trump’s Latest Tariff Blitz Rattles Global Markets, Copper Prices Plummet

President Trump has intensified his trade offensive, announcing a new wave of tariffs targeting at least seven countries and key commodities. The aggressive move includes a significant 50% tariff on US copper imports, mirroring duties already on aluminum and steel, and a potential 200% tariff on pharmaceuticals.

The immediate market reaction was swift, with COMEX copper futures (HG=F) falling over 3% on Wednesday as traders absorbed the implications of the new duties. This follows a Tuesday surge that saw New York copper futures climb 25% above global prices, reflecting increased costs for US factories.

The new tariff threats, communicated via Truth Social and official letters sent to countries like South Africa, Malaysia, and Thailand, range from 25% to 40%. The administration also detailed specific outcomes for ongoing negotiations: Vietnam faces a 20% tariff on imports, potentially rising to 40% for transshipped goods.

Globally, reactions are mixed. China issued a stern warning against reigniting trade tensions, vowing retaliation for deals that exclude Beijing from supply chains. Meanwhile, the European Union is reportedly racing to finalize a deal this week, potentially accepting a 10% universal tariff while seeking sector-specific exemptions. Canada, having recently scrapped its digital services tax, has resumed trade talks with the US, aiming for a resolution by mid-July. This escalating trade policy continues to send ripples through the global economy.

阅读中文版 (Read Chinese Version)

Disclaimer: This content is aggregated from public sources online. Please verify information independently. If you believe your rights have been infringed, contact us for removal.