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President Donald Trump vowed to push forward with his aggressive tariff regime in the coming days, stressing he would not offer additional extensions on country-specific levies set to now hit in early August while indicating he could announce substantial new rates on imports of copper and pharmaceuticals.
The posturing on social media and at a Cabinet meeting on Tuesday came after traders initially shrugged off a series of letters and executive actions Trump issued Monday, pushing back the deadline for his so-called “reciprocal” tariffs while announcing the latest rates he planned for more than a dozen countries that had not succeeded in brokering quick trade agreements.
That changed Tuesday as Trump signaled a renewed determination to push ahead with his plans to heavily tax foreign imports. Trump said he would offer no additional delays on the country-specific tariffs, despite the previous night allowing he was “not 100% firm” on his August 1 deadline.
He said he would impose a 50% rate on copper products being sent into the US, surging futures of the commodity to their largest intraday gain in data going back to at least 1988.
Today's show features:
- Bloomberg News Economic Statecraft Reporter Joe Deaux on President Donald Trump's latest tariff announcements
- Libby Cantrill, Managing Director and the head of public policy for PIMCO on corporate positioning based on changes to White House trade policy and tariffs
- Ellen Wald, President of Transversal Consulting and Senior Fellow at the Atlantic Council on the global energy market and this week’s OPEC+ meeting
- Bloomberg News Managing Editor for Global Consumer Tech Mark Gurman on Apple’s problems in the AI arms race
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