Bloomberg News Now July 8, 2025: Trump Tariff Deadline Set, Tees Up Copper Tariffs, More
Jul 9, 2025
The latest discourse dives into President Trump's tariff policies affecting copper imports from Korea and Japan. It also sheds light on Texas's resilience against disasters, especially post-Hurricane Harvey, alongside cybersecurity challenges. Additionally, there’s a fascinating exploration of Meta's AI innovations, including smart glasses and collaborations aimed at boosting business efficiency.
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Trump's Firm Tariff Deadline
- President Trump insists on enforcing tariffs without further extensions in early August.
- Larger trade partners like Korea and Japan have a three-week negotiation window before tariffs apply.
High Tariffs on Copper and Pharma
- Trump plans a 50% tariff on copper imports and very high tariffs on pharmaceuticals after a grace period.
- This signals a tougher stance on key import goods to protect domestic interests.
Trade Expert Critiques Tariffs
- Former U.S. Trade Representative Carla Hill says Trump's tariffs will raise inflation and hurt job creation.
- She deems the plan as economically and geopolitically damaging without a clear strategy.