Copper Prices Hit Record High as Trump Unveils 50% Tariffs

WSJ What’s News

The Wall Street Journal

News, Daily News

4 • 4K Ratings

🗓️ 8 July 2025

⏱️ 13 minutes

🔗️ Recording | iTunes | RSS

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Summary

P.M. Edition for July 8. During a cabinet meeting today, President Trump announced a 50% tariff on copper and threatened the European Union with steep tariffs if it doesn't reach a trade deal with the U.S. WSJ reporter Kim Mackrael says the EU’s member states are split as to how to handle Trump’s demands. Plus, the Supreme Court has lifted a halt on President Trump’s plan to shrink the federal workforce, clearing the way for potential mass layoffs of federal workers. And New York City real-estate executives are fighting to block Democratic mayoral nominee Zohran Mamdani from winning the general election in November. Reporter Rebecca Picciotto explains why they’re switching their support (and money) from former Gov. Andrew Cuomo to incumbent Eric Adams. Alex Ossola hosts. Sign up for the WSJ's free What's News newsletter. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	Americans love using their credit cards, the most secure and hassle-free way to pay.
0:04.0	But DC politicians want to change that with the Durban Marshall Credit Card Bill.
0:08.0	This bill lets corporate megastores pick how your credit card is processed,
0:13.0	allowing them to use untested payment networks that jeopardize your data security and rewards.
0:18.0	Corporate megastores will make more money and you pay the price.
0:22.1	Tell Congress to guard your card because Americans lose when politicians choose. Learn more at
0:28.1	guard your card.com. Copper prices hit an all-time high as President Trump threatens 50% tariffs on imports of the metal.
0:40.5	Plus, why EU member states can't agree on how to approach tariff negotiations with the U.S.
0:46.2	The reality that everybody in Europe has come to accept is no matter what is agreed to,
0:52.2	it's going to be worse than the situation was before President
0:56.1	Trump started imposing tariffs on Europe and the rest of the world.
0:59.4	And why New York City real estate developers are backing Mayor Eric Adams to be reelected.
1:05.2	It's Tuesday, July 8th.
1:07.0	I'm Alex Osloaf for the Wall Street Journal.
1:09.3	This is the PM edition of What's News, the top headlines and business stories that move the world today.
1:18.5	We start this evening with a decision from the U.S. Supreme Court, which late this afternoon lifted a halt on President Trump's plan to shrink the federal workforce, a decision
1:28.7	that clears the way for potential mass layoffs of federal workers. In February, Trump issued an
1:34.6	executive order aimed at drastically reducing the government's workforce. But in May, a federal
1:40.0	judge in San Francisco blocked it from taking effect. In an unsigned order, the Supreme Court said today
1:45.5	it had based its decision on the legality of Trump's executive order itself and didn't rule on
1:51.0	whether the reorganization plans broke the law. President Trump has said that there will be
1:59.9	no extensions to his August 1st deadline to impose
	...

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