Trump Vows No Tariff Extension, Hardens Threats on Copper, Drugs

<p>Watch Bloomberg Businessweek Daily LIVE every day on YouTube: <a href="http://bit.ly/3vTiACF">http://bit.ly/3vTiACF</a>.<br /><br />President Donald Trump vowed to push forward with his aggressive tariff regime in the coming days, stressing he would not offer additional extensions on country-specific levies set to now hit in early August while indicating he could announce substantial new rates on imports of copper and pharmaceuticals.<br />The posturing on social media and at a Cabinet meeting on Tuesday came after traders initially shrugged off a series of letters and executive actions Trump issued Monday, pushing back the deadline for his so-called &ldquo;reciprocal&rdquo; tariffs while announcing the latest rates he planned for more than a dozen countries that had not succeeded in brokering quick trade agreements.<br />That changed Tuesday as Trump signaled a renewed determination to push ahead with his plans to heavily tax foreign imports. Trump said he would offer no additional delays on the country-specific tariffs, despite the previous night allowing he was &ldquo;not 100% firm&rdquo; on his August 1 deadline.<br />He said he would impose a 50% rate on copper products being sent into the US, surging futures of the commodity to their largest intraday gain in data going back to at least 1988.<br /><br />Today's show features:</p> <ul> <li>Bloomberg News Economic Statecraft Reporter Joe Deaux on President Donald Trump's latest tariff announcements</li> <li>Libby Cantrill, Managing Director and the head of public policy for PIMCO on corporate positioning based on changes to White House trade policy and tariffs</li> <li>Ellen Wald, President of Transversal Consulting and Senior Fellow at the Atlantic Council on the global energy market and this week&rsquo;s OPEC+ meeting</li> <li>Bloomberg News Managing Editor for Global Consumer Tech Mark Gurman on Apple&rsquo;s problems in the AI arms race</li> </ul><p>See <a href="https://omnystudio.com/listener">omnystudio.com/listener</a> for privacy information.</p>