Trump Delays New Tariffs, Expands Scope Globally

President Donald Trump has delayed the implementation of a new round of tariffs on dozens of U.S. trading partners to August 7, allowing time for updated schedules and Customs preparations. The tariffs range from 10% to 50% on various goods, including a 35% tariff on some Canadian imports, 20% on Bangladeshi goods, and a 50% tariff on certain semi-finished copper products, while raw copper remains exempt. Temporary trade truces have been reached with China and Mexico, with other negotiations ongoing. The announcement triggered a historic single-day drop in global copper prices and heightened uncertainty for businesses and consumers. Critics warn the tariffs could raise consumer prices, fuel inflation, and strain alliances, though the administration argues they will aid domestic manufacturing and reduce the deficit. Legal challenges and continued talks mean the ultimate scope and impact of the tariffs are still unsettled.