From launching 25% duties on Mexican goods in February to unveiling a 50% levy on imported copper on Monday, U.S. President Donald Trump has fired off a rapid-fire series of tariff moves that has jolted financial markets and unsettled global supply chains.
The latest step — a promise on Monday to slap 50% tariffs on copper and soon tax semiconductors and medicines — crowns nearly 30 separate tariff actions since Mr Trump was sworn in on 20 January. The flurry has widened to cover allies and rivals alike, prompting court challenges, hurried exemptions and emergency trade talks.
Economists at the Peterson Institute for International Economics say the measures now touch more than 70% of U.S. merchandise imports, a reach unmatched since the 1930 Smoot-Hawley Act. Wall Street has swung sharply in response, with about $3 trillion wiped from global share values on 9 April after a surprise blanket 10% duty on almost all imports.
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Washington has meanwhile struck a limited accord with Britain and a 90-day tariff truce with China, yet threats of 25–40% duties loom against 14 other nations from Japan to Serbia after 1 August.
Foreign governments have warned the campaign risks fragmenting global commerce. The European Commission says a straight 50% U.S. tariff on EU goods would imperil trade flows worth more than $850 billion a year. Beijing has accused Washington of “weaponising” tariffs, while Mexico and Canada argue the measures breach the revised North American trade pact.
Analysts expect fresh legal battles and retaliatory steps. “The scale and speed are unprecedented in modern U.S. history,” said Chad Bown of the Peterson Institute. “Even short pauses in implementation barely dent the uncertainty for companies planning cross-border investment.”
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Oil prices climbed on Wednesday, maintaining their highest levels since 23 June, lifted by recent attacks on shipping in the Red Sea, along with concerns over steep U.S. tariffs on copper and a forecast for lower U.S. oil production.
Shipments of antimony to the United States have jumped to more than 3,800 tonnes in five months via Thailand and Mexico, customs data show, as buyers find back-door routes around Beijing’s export ban on critical minerals bound for the U.S.
The Kremlin says it remains calm after Donald Trump’s criticism of Vladimir Putin, expressing hope for ongoing dialogue with Washington despite rising tensions.
Australian researchers have pioneered a low-cost and scalable plasma-based method to produce ammonia gas directly from air, offering a green alternative to the traditional fossil fuel-dependent Haber-Bosch process.
European Commission President Ursula von der Leyen urged stronger sanctions and defence support for Ukraine as the EU's 18th sanctions package against Russia nears approval.
A deadly mass shooting early on Monday (7 July) in Philadelphia's Grays Ferry neighbourhood left three men dead and nine others wounded, including teenagers, as more than 100 shots were fired.
Archaeologists have uncovered a 3,500-year-old city in northern Peru that likely served as a key trade hub connecting ancient coastal, Andean, and Amazonian cultures.
The United States has rescinded licensing restrictions on ethane exports to China, allowing shipments to resume after a temporary halt and signalling progress in efforts to ease recent trade tensions.
Red Bull have sacked team principal Christian Horner and appointed Laurent Mekies as the Briton's replacement, the Formula One team announced on Wednesday.
German Chancellor Friedrich Merz says he's “cautiously optimistic” about securing a U.S.-EU trade deal within days, highlighting its crucial importance for Germany’s export-heavy industries.
Shipments of antimony to the United States have jumped to more than 3,800 tonnes in five months via Thailand and Mexico, customs data show, as buyers find back-door routes around Beijing’s export ban on critical minerals bound for the U.S.
The Kremlin says it remains calm after Donald Trump’s criticism of Vladimir Putin, expressing hope for ongoing dialogue with Washington despite rising tensions.
The European Union is pressing Washington to roll back punitive tariffs on its exports and to promise no new duties, a senior law-maker said on Wednesday, as negotiators race to finalise a framework accord by 1 August.
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