Trump Expands Tariff Campaign: Global Trade Tensions Escalate

U.S. President Donald Trump has intensified his global trade war by imposing a 50% tariff on imported copper and promising new tariffs on semiconductors and pharmaceuticals soon. This announcement follows a day after he threatened 14 trading partners with significantly higher tariffs, including major suppliers like South Korea and Japan.

Trump, speaking during a White House cabinet meeting, acknowledged the potential for further global economic instability as U.S. copper futures surged over 10%. The new duties on copper, crucial for electric vehicles and other industries, join existing tariffs on steel, aluminum, and automobiles, with pharmaceutical stocks also affected by potential 200% tariffs on drug imports.

With the administration's goal of reaching "90 deals in 90 days," trade discussions with the EU and China show progress. However, Trump continues to threaten high tariffs on various countries while negotiations evolve. Some European nations and others, like Japan and South Korea, are preparing their responses as deadlines approach.

(With inputs from agencies.)