Tariffs

NBC News -  President Donald Trump said he plans to impose a tariff of up to 200% on imports of pharmaceuticals and 50% on copper-based goods. The copper tariffs would come first, Commerce Secretary Howard Lutnick said on CNBC.

 NPR -  President Trump posted letters on social media yesterday to leaders of 14 countries, informing them of his plans to impose new tariffs on their exports to the U.S. starting Aug. 1. Afterward, stocks tumbled. The president signed an executive order officially pushing back a July 9 deadline for trade deals to the new date and stated that countries can continue to negotiate with the U.S. during that time.

It is possible that trading partners are wondering how serious Trump is since he keeps moving the goal posts, NPR’s Scott Horsley says. The U.K. and Vietnam, two countries that have made agreements, didn’t get any real tariff relief from the U.S. The uncertainty over what tariffs will be in August or next year is a brutal investment environment for importers or people looking to invest in the U.S., says Scott Lincicome, who’s with the libertarian CATO Institute.