US equity-index futures edged lower on Thursday as President Donald Trump reignited trade fears by announcing a 50% tariff on copper imports and issuing new tariff letters targeting multiple countries. The move triggered cautious sentiment in global markets.
Futures tied to the S&P 500 index slipped 0.2%, while the US dollar weakened slightly, falling 0.1%. Asian equities remained largely flat as investors processed the potential impact of renewed trade hostilities.
Copper prices surged following the announcement. Copper futures on the London Metal Exchange climbed 0.4% to $9,664.50 per ton, while Comex contracts spiked nearly 3%. The US plans to enforce the new copper tariff starting August 1, a measure likely to strain producers dependent on the industrial metal.
Meanwhile, Brazilian assets were hit hard after Trump included the country in the latest round of punitive tariff letters, deepening market unease. The announcement followed earlier tensions between the US and Brazil’s President Luiz Inacio Lula da Silva.
In Japan, a 20-year government bond auction showed lukewarm interest, with a bid-to-cover ratio falling below the 12-month average of 3.29 — adding to the cautious tone in the broader markets.
Bitcoin, by contrast, remained resilient and hovered near a record high set on Wednesday, defying the broader risk-off sentiment.
