President Donald Trump over the last two days announced a new round of additional tariffs. The move comes after the administration this week announced levies against 14 other countries.
The latest tariffs include:
• Philippines, 20%
• Brunei, 25%
• Moldova, 25%
• Algeria, 30%
• Iraq, 30%
• Libya, 30%
• Sri Lanka, 30%
Additionally, the administration this morning announced that it is imposing a 50% tariff against Brazil, citing the country’s legal action against former president Jair Bolsonaro, according to reporting in The Wall Street Journal.
“The way that Brazil has treated former President Bolsonaro, a Highly Respected Leader throughout the World during his Term, including by the United States, is an international disgrace,” Trump posted on the social media platform Truth Social.
Trump also announced across-the-board tariffs of 50% on imported copper starting Aug. 1. Copper is widely used in such marine products as electrical wire, electronics components, microchips and more.
Copper futures rose this morning on the London Metal Exchange to $9,671 per metric ton, according to The Wall Street Journal. Chile is the largest exporter to the United States, representing 90% of U.S. copper imports, according to Reuters.
