Key Facts
• U.S. plans 50% tariff on copper imports, effective August 1, 2025.
• Pharmaceutical manufacturers may receive a one-year grace period for new tariffs.
• U.S. Treasury Secretary Bessent to visit Japan for Osaka Expo on July 19, 2025.
• Bank of Japan’s Junko Koeda highlights strong food prices, especially rice, impacting inflation.
• S&P 500 hits record highs, but gains are concentrated in major tech firms.
• Amazon Prime Day U.S. sales down 14% in first four hours compared to last year.
Summary
The U.S. is set to impose a 50% tariff on copper imports starting August 1, 2025, as part of broader sector-specific tariffs. Pharmaceutical manufacturers may receive a one-year grace period. Treasury Secretary Bessent is expected to visit Japan for the Osaka Expo, with potential discussions on trade. In Japan, Bank of Japan’s Junko Koeda noted strong food prices, particularly rice, which could influence inflation. Meanwhile, the U.S. stock market shows signs of instability, with gains concentrated in a few tech giants. Amazon’s Prime Day sales in the U.S. dropped 14% in the first four hours, potentially due to extended sale days and tariff impacts.
