.jpg)
19 hours ago
1
Article content
(Bloomberg) — US President Donald Trump ramped back up his tariff plans with an eye on copper and Canada, deflating hopes that the administration was dialing back its initial Liberation Day levies first announced in April.
THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLY
Subscribe now to read the latest news in your city and across Canada.
- Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman, and others.
- Daily content from Financial Times, the world's leading global business publication.
- Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.
- National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.
- Daily puzzles, including the New York Times Crossword.
SUBSCRIBE TO UNLOCK MORE ARTICLES
Subscribe now to read the latest news in your city and across Canada.
- Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman and others.
- Daily content from Financial Times, the world's leading global business publication.
- Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.
- National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.
- Daily puzzles, including the New York Times Crossword.
REGISTER / SIGN IN TO UNLOCK MORE ARTICLES
Create an account or sign in to continue with your reading experience.
- Access articles from across Canada with one account.
- Share your thoughts and join the conversation in the comments.
- Enjoy additional articles per month.
- Get email updates from your favourite authors.
THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK.
Create an account or sign in to continue with your reading experience.
- Access articles from across Canada with one account
- Share your thoughts and join the conversation in the comments
- Enjoy additional articles per month
- Get email updates from your favourite authors
Sign In or Create an Account
or
Article content
Trump said that US imports of copper — a vital component in power networks, plumbing and industrial machinery — will face a 50% duty from Aug. 1. He also threatened a 35% tariff on some Canadian goods and raised the prospect of increasing levies on most other countries, following threats to impose a 50% tariff on Brazil over its domestic political affairs.
Article content
Article content
Article content
On Thursday, Trump told NBC News he’s eying blanket tariffs of 15% to 20% on most trading partners who haven’t been informed yet of their rates. The current global baseline minimum levy for nearly all US trading partners is 10%.
Article content
By signing up you consent to receive the above newsletter from Postmedia Network Inc.
Article content
Here are some of the charts that appeared on Bloomberg this week on the latest developments in the global economy, markets and geopolitics:
Article content
World
Article content
Trump unveiled a wave of letters again threatening key trading partners with high tariff rates even as he delayed the increased duties until Aug. 1 and suggested that he was still open to negotiations. Still, the US president said the Aug. 1 deadline was “not 100% firm” and signaled he might tweak the rates further.
Article content
The Reserve Bank of Australia shocked markets this week by keeping interest rates on hold at 3.85%, despite widespread expectations for a third cut in five months. Central bankers in Israel, Romania, New Zealand, Peru, Egypt, Serbia and Kazakhstan also kept interest rates unchanged. Uruguay surprised with a quarter-point rate cut, while Malaysia lowered borrowing costs for the first time since 2020.
Article content
Article content
Emerging Markets
Article content
Trump threatened to impose a 50% tariff on Brazil over its domestic political affairs, the most extreme case yet of the US president weaponizing trade policy to make unrelated demands. Trump’s latest threat, against a nation that sells fewer goods to the US than it buys, risks reinforcing concerns that formal trade agreements may offer limited protection against future tariff hikes.
Article content
Brazil’s annual inflation ticked up further above target, a signal of the long road ahead before the central bank can begin easing sky-high interest rates.
Article content
US
Article content
US buyers of copper will pay a high price if President Donald Trump pushes ahead with a 50% tariff on refined metal as opposed to products such as wiring, according to producers and analysts. As Trump prepares to slap a 50% levy on imported copper as of Aug. 1, the global supply chain is sweating on details of the measure.
Article content
US manufacturers secured the business tax provisions they’d hoped for in Trump’s budget megabill, but the president’s erratic trade policy risks tempering any pronounced pickup in capital investment. Still, some expect any notable upturn in capital expenditures to take longer to evolve because of the administration’s frenetic tariff announcements as well as the levies themselves.
English (US)