📈 Copper Prices Spike in U.S. After Trump Tariff Threat
U.S. copper prices surged over 13% — the sharpest one-day gain since 1989 — after President Trump announced a 50% tariff on imported copper. The move pushed U.S. prices far above global benchmarks, with the Comex-LME premium jumping to over $2,600 per tonne. With the U.S. still importing nearly half its copper, analysts warn the policy could raise costs for manufacturers, strain supply chains, and weigh on economic growth.
📅 Tariff Countdown Reset: Trump Moves Deadline to August 1
President Trump has pushed the global tariff reprieve deadline to August 1. Countries without finalized trade deals will face tariffs reverting to April 2 levels. Adding fuel to the fire, Trump threatened new 10% duties on BRICS nations, escalating tensions. All eyes now turn to Wednesday’s Fed minutes for clues on how trade policy could shape monetary moves.
🌐 Trade Timeline Slips: Implementation Lags Behind Rhetoric
While Trump vowed that tariff letters would go out Monday and predicted progress by July 9, the real impact won’t hit until August. This gap between announcement and enforcement is creating confusion in the markets, with strategist Greg Valliere warning that “the calendar doesn’t match the headlines.”
💵 Bessent’s Bold Bet: Can Stablecoins Reinforce the Dollar?
Treasury Secretary Scott Bessent is betting that dollar-backed stablecoins could be the modern equivalent of the petrodollar. He argues they could preserve U.S. financial dominance in a digital world—but faces stiff resistance from global regulators. Nations like South Korea and Hong Kong are fast-tracking their own stablecoins, raising questions about who will shape the future of money.
📉 Goldman Sachs: Rate Cuts Could Start in September
Goldman Sachs now expects the Fed to begin cutting interest rates as soon as September, citing stronger-than-expected disinflation and easing labor metrics. The firm projects five rate cuts by mid-2026 and sees the terminal rate falling to 3.0–3.25%. While the economy holds steady, slower wage growth and softening job data support a pivot—one that could be bullish for gold.
