Presidential Briefing3 Elo 2025

Golden Age Tariffs?

On July 30, 2025, the President declared a national emergency concerning the Government of Brazil, citing its interference with the U.S. economy, infringement of free expression, human rights violations, and political persecution, leading to an additional 40% ad valorem duty on certain Brazilian products, with exemptions for items like civil aircraft and specific raw materials. Concurrently, a 50% tariff was imposed on semi-finished copper products and intensive copper derivative products due to threats to national security from foreign unfair trade practices in the copper industry, with plans for phased universal tariffs on refined copper and domestic sales requirements. The following day, July 31, 2025, saw an increase in the duty rate on certain Canadian products from 25% to 35%, and a 40% duty for transshipped articles from Canada, in response to Canada's insufficient cooperation on illicit drug flow and its retaliation against U.S. actions. Reciprocal tariff rates were also adjusted for various countries, with Brazil facing a 10% reciprocal tariff, while Laos and Myanmar were subjected to 40% tariffs. A significant global change was the suspension of duty-free de minimis treatment for all countries, effective August 29, 2025, aimed at preventing tariff evasion, especially for low-value imports, with new methodologies for international postal shipments based on existing tariff rates. Domestically, the President reestablished the Presidential Fitness Test and revitalized the President’s Council on Sports, Fitness, and Nutrition to combat declining public health and foster a national culture of vitality, and several nominations for federal positions were sent to the Senate.

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