Trump Trade: U.S. President declares 50% tariff on copper, effective August 1

Catch up on the top industries and stocks that were impacted, or were predicted to be impacted, by the comments, actions and policies of President Donald Trump with this daily recap compiled by The Fly:

TARIFFS ON COPPER: President Donald Trump stated in a post to Truth Social, “I am announcing a 50% TARIFF on Copper, effective August 1, 2025, after receiving a robust NATIONAL SECURITY ASSESSMENT. Copper is necessary for Semiconductors, Aircraft, Ships, Ammunition, Data Centers, Lithium-ion Batteries, Radar Systems, Missile Defense Systems, and even, Hypersonic Weapons, of which we are building many. Copper is the second most used material by the Department of Defense! Why did our foolish (and SLEEPY!) “Leaders” decimate this important Industry? This 50% TARIFF will reverse the Biden Administration’s thoughtless behavior, and stupidity. America will, once again, build a DOMINANT Copper Industry. THIS IS, AFTER ALL, OUR GOLDEN AGE!” Publicly traded companies in the copper sector include Freeport McMoRan (FCX), Southern Copper (SCCO), Rio Tinto (RIO), BHP (BHP), and Glencore (GLNCY).

AUGUST 1 TARIFFS: President Trump posted via X a letter to Libya, Algeria and Iraq saying a 30% tariff on all goods shipped to the U.S. will begin on August 1. Trump also posted letters to Moldova and Brunei announcing a 25% tariff starting on August 1 as well as a letter to Philippines revealing a 20% tariff.

TARIFFS ON PRODUCTS FROM BRAZIL: In a letter to Brazil President Luiz Inacio Lula da Silva, U.S. President Donald Trump said the U.S. will impose a 50% tariff on any and all goods from Brazil.

In response to Trump’s announcement of 50% tariffs on products from Brazil, Brazil’s president Luiz Inacio Lula da Silva said the country will respond to the U.S. using Brazil’s Law of Economic Reciprocity.