Trump Targets Brazil, Confirms 50% Copper Tariff From August | Daybreak Europe 07/10/2025

From Bloomberg Markets and Finance.

Bloomberg Daybreak Europe is your essential morning viewing to stay ahead. Live from London, we set the agenda for your day, catching you up with overnight markets news from the US and Asia. And we’ll tell you what matters for investors in Europe, giving you insight before trading begins.

On today’s show, the US President takes aim at Brazil, imposing a 50% tariff despite it running a trade deficit with the US. In his tariff letter, Donald Trump cites attempted coup charges against the right-wing former president Jair Bolsonaro, and calls for them to be dropped.

Trump also confirms a 50% tariff on copper will take effect from August 1, setting up a race against the clock for traders rushing to get copper shipments to the US.

Plus TSMC reports better than expected revenue, as Nvidia becomes the first $4 trillion company.

Today’s guests: Jane Foley, Rabobank, FX Strategy Head; Amrita Sen, Energy Aspects, Founder & Research Director.

Chapters:
00:00:00 – Daybreak: Europe
00:01:51 – Chinese Tech Stocks Look to Nvidia for Inspiration
00:03:51 – Trump Unveils New Tariff Rates, Including 50% Levy on Brazil
00:06:17 – Trump: Bolsonaro Charges Should Be Dropped
00:08:10 – Brazil Assets Plunge After Trump Hikes Tariff Rate to 50%
00:09:16 – Nvidia Becomes First $4 Trillion Company
00:12:49 – Trump Confirms 50% Tariff on Copper From Aug. 1
00:14:50 – Traders Race to Get Copper to Hawaii, Puerto Rico
00:16:40 – Stephen Miran, US Council of Economic Advisers Chairman
00:19:47 – Amazon Prime Day Sales Off to a Weak Start
00:20:13 – Meta Lures Apple AI Chief with $200M Deal
00:20:36 – Microsoft Touts $500M AI Savings
00:21:05 – Nvidia Briefly Tops $4 Trillion
00:21:43 – SAP CEO Calls For Streamlined AI Regulation
00:26:13 – TSMC Revenue Climbs 39% in Latest Sign of AI Spending Boom
00:27:17 – Jane Foley, Rabobank FX Strategy Head
00:35:14 – TSMC Results Latest
00:36:50 – Musk’s Grok 4 Model Launched
00:38:47 – Linda Yaccarino Stepping Down of Elon Musk’s X
00:41:03 – Amrita Sen, Energy Aspects Founder
00:46:01 – USD Turnaround
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