💨 Abstract

President Donald Trump announced that the August 1 deadline for higher U.S. tariffs on South Africa and other countries will not be extended. He also revealed plans for a 50% duty on copper imports and threatened steep tariffs on pharmaceuticals. Additional probes into imports of lumber, semiconductors, and critical minerals could lead to further levies. Trump also sent letters to key trading partners, including Japan, South Korea, and South Africa, warning them on the tariff threat.

Courtesy: AFP