Trump Announces 50% Tariff on Copper Imports; Bulgaria to Adopt Euro

Trump's New Tariffs on Copper

• ⚡ Donald Trump announced a new blanket tariff of 50% on copper imports during a cabinet meeting.
• 📈 This announcement caused copper prices to jump to a record high, highlighting its importance as a critical mineral for the clean energy transition.
• ⚠️ Trump also mentioned potential tariffs on pharmaceuticals, with companies given up to 1.5 years before implementation.

Shifting Tariff Landscape

• 🌍 Trump sent tariff letters to 14 trading partners, with rates for countries like Japan and South Korea potentially facing 25% tariffs, and South Africa 30%.
• 🗓️ The implementation of these tariffs has been delayed to August 1st, suggesting some flexibility and ongoing negotiations.
• 🤝 Japan has already resumed talks with the US, indicating that the tariff situation is not set in stone.

Bulgaria Adopts the Euro

• 🇪🇺 EU ministers have given the final approval for Bulgaria to adopt the euro on January 1, 2026, making it the 21st member of the Eurozone.
• ✅ This decision follows years of reforms by Bulgarian authorities to meet strict convergence criteria, including stable public finances and low inflation.
• 📉 Despite meeting the criteria, public opinion in Bulgaria has cooled on the euro, with protests and anti-EU narratives emerging.
• ⚖️ The official conversion rate will be 1 lev to 0.95 euros.

Controversial French Agriculture Bill

• 🇫🇷 The French Parliament has approved a controversial agriculture bill that reintroduces the pesticide acetamiprid, banned in 2020 due to its impact on bee populations and potential health risks.
• 🐝 Supporters argue the pesticide is crucial for protecting crops like beetroot and hazelnuts, while opponents, including environmental groups and doctors, warn of its risks to human health, particularly neurodevelopmental disorders in children.
• 💧 The bill also includes measures to expand water storage for irrigation and ease environmental rules for intensive livestock farms.
• ⚖️ The left-wing opposition plans to appeal the law to the constitutional council.