The sector-specific tariffs are putting pressure on businesses and foreign nations as they try to navigate Trump's constantly evolving trade agenda.

An indicator of copper import demand in top consumer China jumped 38% on Wednesday, suggesting robust appetite for the metal, after U.S. President Donald Trump's plans for a 50% import tariff drove down benchmark prices in London.

President Donald Trump told reporters during a cabinet meeting Tuesday that more trade deals are on the way, especially in the form of letters setting rates unilaterally by the U.S. “The deals are mostly my deal to them,

Trump and his aides have repeatedly shifted their stance on tariffs in the weeks since the president’s “Liberation Day” announcement.

Donald Trump has revived his threat to hit major trading partners with steep “reciprocal” tariffs even as he granted a three-week reprieve for countries to negotiate trade deals with the US.

“Any Country aligning themselves with the Anti-American policies of BRICS, will be charged an ADDITIONAL 10% Tariff. There will be no exceptions to this policy,” Mr. Trump said in a Truth Social post. He did not elaborate, nor did he say what BRICS policies he was referring to.

US President Donald Trump ramped back up his tariff plans with an eye on copper and Canada, deflating hopes that the administration was dialing back its initial Liberation Day levies first announced in April.

With the S&P 500 notching records despite promises that more tariffs are coming to everyone from Canada to Brazil to Algeria, Trump told NBC in an interview: “I think the tariffs have been very well-received.