What Happened in Markets Today Copper prices—and mining stocks—rose after Trump confirmed a 50% tariff on the metal will take effect Aug. 1. Prices for the [metal hit record highs](

Brazilian President Luiz Inacio Lula da Silva responded to Trump's letter by issuing a statement saying that any unilateral measure to increase tariffs would be met with a response in accordance with Brazilian law.

President Trump is amping up trade threats, again unveiling a new batch of letters to country leaders outlining tariffs on goods imported from their countries beginning in August and a warning to BRICS nations.

Trump tariffs live updates: Brazil, copper hit with 50% tariffs as India seeks to dodge Trump's BRICS wrath. Yahoo Finance . Updated Thu, Jul 10, 2025, 7:11 PM 2 min read. In This Article:

Brazil has warned of retaliation after the US imposed a 50% tariff on its copper imports, a move linked to Trump's support for Bolsonaro. President Lu

In a letter to President Luiz Inácio Lula da Silva of Brazil, Mr. Trump wrote that the new tariffs would take effect on Aug. 1. “The way that Brazil has treated former President Bolsonaro, a Highly Respected Leader throughout the World during his Term, including by the United States, is an international disgrace.”

Stock indexes edged higher on Thursday, with investors weighing the latest trade announcements from U.S. President Donald Trump, while the Brazilian real recovered some losses following Trump's announcement of a 50% tariff on goods from Brazil.