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Trump announces tariffs on copper, Brazil, and small-value

shipments

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Copper prices drop 17% after tariff announcement

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South Korea negotiates with US to avoid 25% tariffs before

August 1 deadline

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Brazil levies tied to prosecution of Bolsonaro

By Ernest Scheyder, David Shepardson and Gabriel Araujo

July 30 (Reuters) - U.S. President Donald Trump on

Wednesday issued a blitz of tariff announcements ranging from

changes to previously threatened levies on imports of copper and

on goods from Brazil to ending an exemption from tariffs for

small-value shipments from overseas.

The wave of announcements came as the clock ticked down

toward an August 1 deadline for higher tariff rates to kick in

on goods imported from most of the world as Trump presses on

with his bid to reshape global trade. The president also touted

ongoing negotiations with key trading partners, including South

Korea.

Capping a day that began with Trump announcing a 25% tariff

rate on goods from India after months of negotiations between

Washington and New Delhi failed to produce a trade deal, Trump

said a 50% tariff on copper pipes and wiring would kick in on

Friday.

Details of the levy, though, fell short of the sweeping

restrictions expected and left out copper input materials such

as ores, concentrates and cathodes.

The surprise move dragged down U.S. copper prices more than

17% on the Comex exchange and unwound a premium over the

London global benchmark that had grown in recent weeks,

with shipments diverted there in anticipation of higher domestic

prices.

"Markets are now busily repricing refined copper much lower

after Trump's epic backflip on his own import tariff policy,"

said Tom Price, an analyst at the London brokerage Panmure

Liberum. "Someone must have finally got through to (Trump) that

the U.S. economy simply can't afford this new trade-hit."

Trump first teased the copper tariff in early July,

implying that it would apply to all types of the red metal,

ranging from cathodes produced by mines and smelters to wiring

and other finished products.

Yet the proclamation released by the White House said the

tariff will apply only to pipes, tubes and other semi-finished

copper products, as well as products that copper is heavily used

to manufacture, including cable and electrical components.

The move aids manufacturers, but does little to boost the

constrained U.S. copper mining industry, which for years has

asked Washington for permitting reform or other steps that could

fuel growth. The move is essentially a boost for Chile and Peru,

two of the world's largest copper miners and major suppliers to

the United States.

The measure came after a U.S. investigation under Section

232 that Trump ordered in February, findings from which were

delivered by Commerce Secretary Howard Lutnick on June 30.

BRAZIL

Trump on Wednesday slapped a 50% tariff on most Brazilian

goods to fight what he has called a "witch hunt" against former

President Jair Bolsonaro, but softened the blow by excluding

sectors such as aircraft, energy and orange juice from the

heavier levies.

That came as a relief for many in Brasilia, who since Trump

announced the tariffs had been urging protections for major

exporters caught in the crossfire. Shares of planemaker Embraer ( ERJ )

and pulpmaker Suzano rose.

"We're not facing the worst-case scenario," Brazilian

Treasury Secretary Rogerio Ceron told reporters. "It's a more

benign outcome than it could have been."

The new tariffs will go into effect on August 6, not

August 1 as Trump announced originally.

'DE MINIMIS'

The White House also said the United States is suspending a

"de minimis" exemption that allowed low-value commercial

shipments to be shipped to the United States without facing

tariffs.

Under Trump's order, packages valued at or under $800 sent

to the U.S. outside of the international postal network will now

face "all applicable duties" starting on August 29, the White

House said.

Trump earlier targeted packages from China and Hong Kong.

The tax-and-spending bill recently signed by Trump repealed the

legal basis for the de minimis exemption worldwide starting on

July 1, 2027.

"Trump is acting more quickly to suspend the de minimis

exemption than the OBBBA requires, to deal with national

emergencies and save American lives and businesses now," the

White House said, referring to the bill known as the One Big

Beautiful Bill Act.

Goods shipped through the postal system will face one of two

tariffs: either an "ad valorem duty" equal to the effective

tariff rate of the package's country of origin or, for six

months, a specific tariff of $80 to $200 depending on the

country of origin's tariff rate.

SOUTH KOREA TALKS

Trump also said he will meet South Korea's trade delegation

as top officials from Seoul are in Washington to cut a

last-minute deal on U.S. tariffs.

South Korean Finance Minister Koo Yun-cheol, Industry

Minister Kim Jung-kwan and Minister for Trade Yeo Han-koo met

U.S. Commerce Secretary Howard Lutnick and U.S. Trade

Representative Jamieson Greer on Wednesday, according to the

finance ministry.

The industry and trade ministers have been in Washington

since last week to reach a deal before August 1, a deadline set

by Trump for 25% tariffs to kick in against South Korea, a major

U.S. ally and powerhouse exporter of chips, cars and steel.

Pressure has been mounting on South Korea since Japan

clinched a deal to cut Trump's threatened tariffs to 15% earlier

this month.