Copper tariffs are the wrong answer to the right question
Trade levies could solve the supply-demand problem but they are a blunt tool
GDP Impact of 87.5K Removals/Yr
From Orrenius et al. (2025), GDP growth is down 0.81% in 2026, 0.49% in 2027. These estimates based on a VAR(2) using annual data, net unauthorized immigration as a percent of the previous-year U.S. population, annual growth rate of nonfarm payroll employment, the PCE annual inflation rate, and yearly GDP growth. Source: Orrenius et al. (2025). PCE inflation is 15 bps and 6 bps higher in 2026 and 2027 under baseline.
Trump threatens to impose 50% tariff on Brazil
US president accuses country of launching a ‘witch-hunt’ against its former leader Jair Bolsonaro
Fed says most policymakers see risks tariffs will cause ‘persistent’ inflation
Minutes from US central bank’s June meeting highlight schism over effect of Donald Trump’s levies
Don’t believe the myth: Britain’s services have been hit hard by Brexit
Export growth has been strong but not lived up to its potential
The Brics lose their clout
The bloc of heavyweight emerging markets has grown bigger but less coherent
Nvidia’s Huang plans Beijing trip ahead of new China AI chip launch
CEO to talk with Chinese officials next week, aiming for September unveiling of processor compliant with US export controls
Trump threatens Brazil with 50% tariff and demands Bolsonaro’s trial end
Trump accused Brazil of “attacks” on US tech companies and conducting a “witch hunt” against its former president Jair Bolsonaro.
US sanctions UN expert Francesca Albanese, critic of Israel’s Gaza offensive
Secretary of State Marco Rubio linked the move to her support for the International Criminal Court (ICC).
The Papers: F1’s Horner ‘shunted out’ and ‘work doesn’t pay’
Thursday’s front pages focus on Red Bull’s removal of Christian Horner and fresh analysis of benefits payments