The Secretary of Economy, Marcelo Ebrard, declared that on Tuesday he would have a call with authorities from the United States to know the new copper tariff announced earlier by President Donald Trump.
“First we are going to find out more in detail. I will have a call today with authorities from the United States and I can give you a more precise position because they didn’t even know. We need to know what it applies. We will understand that first,” he said during an event about the program ‘Made in Mexico’.
Trump said Tuesday that he will impose a 50% tariff to imported copper and will soon introduce taxes with which he has long threatened semiconductors and pharmaceutical products, expanding his commercial war that has shaken the markets around the world.
Tonight announced that at least seven tariff notices would be published on Wednesday morning and more in the afternoon. He gave no more details in his publication in Truth Social.
Lee: Where does copper get?
A day after pressing 14 commercial partners, including important United States suppliers such as South Korea and Japan, with new tariff letters, Trump reiterated his threat to impose 10% tariffs on the products of Brazil, India and other members of the BRICS countries.
Trump’s comments, made during a White House cabinet meeting, could inject more instability into a global economy that has been shaken by tariffs that he has imposed or threatened to impose imports to the world’s largest consumption market.
American copper futures rose more than 10% after the Trump announcement of the new tariff on a crucial metal for electric vehicles, military armament, electricity grid and numerous consumer goods.
Lee: Copper prices in historical maximum after Trump’s tariff warning
This tariff would be added to those already in force for imports of steel, aluminum and cars, although it was not clear when it would come into force.
American pharmaceutical actions also fell after Trump’s threat to impose 200% tariffs on import imports, which according to the Republican could be delayed approximately one year.
The Trump government promised “90 agreements in 90 days” after announcing a series of specific tariffs for each country in early April.
So far, only two agreements have been reached, with the United Kingdom and Vietnam. Trump has affirmed that an agreement with India is close.
The president said that countries have been crying out by negotiating.
“It was time for the United States to start charging money from the countries that cheated us (…) and laughed behind how stupid we were,” he said.
With Reuters information
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