Trump unveils new tariff rates

President Donald Trump has launched his global tariff assault into overdrive, announcing a new 50% tariff on U.S. copper imports and a 50% duty on goods from Brazil, both to start on August 1

U.S. COPPER IMPORTS BY COUNTRY, 2024

Chile  41%
Other countries  14%
Germany 2%
South Korea 3%
Mexico 7%
Peru 6%
Canada 27%

Total imports (tonnes) 850,000*

Copper is key component in military equipment,  as well as electric vehicles and construction

*Excludes scrap. Figure accounts for around 50% of U.S. consumption

U.S.-BRAZIL GOODS TRADE, 2024  $
92 billion     
$49.7bn
$42.3bn

U.S. trade surplus with Brazil: $7.4bn
 

Sources: ING Bank, Reuters, United States Trade Representative © GRAPHIC NEWS