Trump teases announcements on trade negotiations with seven countries
President Trump teased seemingly major announcements related to trade negotiations with at least seven countries on Tuesday evening.
"We will be releasing a minimum of 7 countries having to do with trade, tomorrow morning, with an additional number of countries being released in the afternoon," Trump wrote in a post on his Truth Social account. "Thank you for your attention to this matter!"
TRUMP PLEDGES 50% TARIFF ON COPPER IMPORTS
Earlier Tuesday, Trump announced that the U.S. will impose a 50% tariff on imported copper, marking an escalation in his broader levy policy aimed at reshoring critical U.S. industries.
A BREAKDOWN OF THE TRADE LINKS OF TRUMP’S LATEST TARIFF TARGETS
Trump made the announcement during a Cabinet meeting in front of the press on Tuesday where he linked the move to his America First policy of rebuilding industrial supply chains and forcing companies to source materials domestically.
LOOMING TOMATO TARIFF CAUSING TRADE TENSIONS
The Truth Social post also follows Trump's recent announcement that if 14 countries do not strike a trade deal with the U.S. by the beginning of next month, they will revert to levels set in April.
While the majority of the new tariffs announced on Monday closely reflect the rates proposed by President Donald Trump in April, Laos and Myanmar are set to face the highest levy at 40%.
Goods from Serbia and Bosnia and Herzegovina will face slightly lower rates of 35% and 30%, respectively. And the remaining countries: Japan, Kazakhstan, Malaysia, South Korea and Tunisia will see a 25% tariff hike.
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In April, Trump announced a "reciprocal" tariff policy under which U.S. tariffs on goods imported from foreign countries would be based on the size of America's bilateral trade deficit with those countries.
Fox News Digital's Amanda Macias and Michael Dorgan contributed to this report.