Global trade is buzzing with new moves from U.S. President Donald Trump. Big changes are underway as a 25% tariff on Indian goods kicks in on August 1, targeting what Trump calls excessive tariffs. Meanwhile, Brazilian products face a steep 50% tariff amid rising tensions.
In a more cooperative twist, Trump sealed a trade deal with South Korea that lowers the previously threatened tariff to 15%. 🤝 As part of the deal, South Korea will invest $350 billion in the U.S. and purchase $100 billion in energy products, aiming to cut export uncertainty and boost bilateral ties.
The tariff shakeup doesn’t end there. Trump’s proclamation also imposes a universal 50% tariff on semi-finished copper products and their derivatives, a move that led to a 20% plunge in U.S. copper futures as markets quickly adjusted. 🤯
Adding to the mix, the U.S. is suspending the de minimis exemption for low-value imports. Starting August 29, packages valued at $800 or less sent outside the international postal network will face all applicable duties, a policy change set to impact many small shipments.
These bold tariff decisions are reshaping the global trade landscape and sparking lively debates about market trends. What do you think about these changes? Share your thoughts and stay tuned as the ripple effects continue!
Reference(s):
Trump strikes tariff deal with S. Korea, ups rates for India, Brazil
cgtn.com
