U.S. President Donald Trump announced on Wednesday a new 50% tariff on copper to start on August 1 in a bid to promote domestic development of an industry critical to defense, electronics and automobiles.

President Donald Trump said his 50% tariff on copper imports will take effect on Aug. 1, noting he made the decision after a national security assessment.

Manufacturers and construction companies — as well as consumers — would face higher prices if the U.S. jacks up tariffs on copper, analysts said.

A nother deadline passed on Wednesday without President Donald Trump following through on his threats to impose new tariffs. It was 90 days ago that Trump had announced an abrupt pause in his plan to levy new tariffs on countries around the world.

Trump's top trade negotiators have pushed deadlines and sent tariff letters after failing to reach Trump's 90 trade deals in 90 days target.

President Donald Trump said “no extensions will be granted” to his Aug. 1 tariff deadline in a Tuesday social media post, the latest bit of uncertainty over when his tariffs will go into effect. “There has been no change to this date,

As part of President Donald Trump’s “Liberation Day” efforts, Vietnamese businesses importing American goods will not have to pay taxes to import these goods. On the other hand, American businesses importing Vietnamese goods will have to pay taxes of 20% to 40%.