President Donald Trump dramatically escalated his global trade offensive on Wednesday, announcing a sweeping 50% tariff on all U.S. copper imports and a 50% duty on Brazilian goods, both effective August 1, 2025. Citing national security concerns under a Section 232 investigation, Trump vowed to revive the U.S. copper industry, linking its decline to the needs of key sectors like semiconductors and defense.

Simultaneously, Trump inflamed tensions with Brazil, accusing its government of censorship and political repression in a sharply worded letter to President Lula. He ordered a Section 301 probe into Brazil’s treatment of U.S. digital firms, threatening even more tariffs. Lula promised retaliation under Brazilian law.

The copper announcement triggered a rush to import supplies from top exporters like Chile, while global markets remained mostly unfazed. However, analysts warn these moves could ignite a damaging trade war, especially with key partners like Brazil and the EU.

Trump’s tariff campaign now includes higher duties on 21 countries, with rates up to 50% on nations like South Korea, Japan, the Philippines, Algeria, and Sri Lanka. Yale researchers estimate the average U.S. tariff rate has surged to 17.6%, the highest since 1934.

While the EU is in last-minute negotiations to avert harsh levies, possibly striking a deal within days, Trump has only finalized two out of a promised “90 deals in 90 days.” With tensions mounting and global trade partners scrambling to respond, Trump’s aggressive tariff agenda is reshaping the international economic landscape.