Markets News

Trump once again issued tariff threats, gold fell 1% during the day, and New York copper futures hit a record high!

· Trump: Tariffs will begin to be imposed on August 1st, with no extensions granted. A 50% tariff will be imposed on imported copper, and tariffs on pharmaceuticals could be as high as 200%, but pharmaceutical manufacturers will be given 18 months to adjust. Tariffs on semiconductors will be announced soon. This news is bearish for pharmaceuticals and copper prices. · US Treasury Secretary Besant: So far, $100 billion in tariffs have been collected, and it is expected that tariff revenue may increase to $300 billion by the end of the year. This news is negative for the US dollar. · The Reserve Bank of Australia unexpectedly kept the benchmark interest rate unchanged at 3.85%, while the market generally expected a 25 basis point rate cut. This news is bullish for the Australian dollar.

TOPONE Markets Analyst

2025-07-09 08:17:31

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