
On today's show, the US President takes aim at Brazil, imposing a 50% tariff despite it running a trade deficit with the US. In his tariff letter, Donald Trump cites attempted coup charges against the right-wing former president Jair Bolsonaro, and calls for them to be dropped.
Trump also confirms a 50% tariff on copper will take effect from August 1, setting up a race against the clock for traders rushing to get copper shipments to the US.
Plus TSMC reports better than expected revenue, as Nvidia becomes the first $4 trillion company.
Today's guests: Jane Foley, Rabobank, FX Strategy Head; Amrita Sen, Energy Aspects, Founder & Research Director.
Chapters:
00:00:00 - Daybreak: Europe
00:01:51 - Chinese Tech Stocks Look to Nvidia for Inspiration
00:03:51 - Trump Unveils New Tariff Rates, Including 50% Levy on Brazil
00:06:17 - Trump: Bolsonaro Charges Should Be Dropped
00:08:10 - Brazil Assets Plunge After Trump Hikes Tariff Rate to 50%
00:09:16 - Nvidia Becomes First $4 Trillion Company
00:12:49 - Trump Confirms 50% Tariff on Copper From Aug. 1
00:14:50 - Traders Race to Get Copper to Hawaii, Puerto Rico
00:16:40 - Stephen Miran, US Council of Economic Advisers Chairman
00:19:47 - Amazon Prime Day Sales Off to a Weak Start
00:20:13 - Meta Lures Apple AI Chief with $200M Deal
00:20:36 - Microsoft Touts $500M AI Savings
00:21:05 - Nvidia Briefly Tops $4 Trillion
00:21:43 - SAP CEO Calls For Streamlined AI Regulation
00:26:13 - TSMC Revenue Climbs 39% in Latest Sign of AI Spending Boom
00:27:17 - Jane Foley, Rabobank FX Strategy Head
00:35:14 - TSMC Results Latest
00:36:50 - Musk's Grok 4 Model Launched
00:38:47 - Linda Yaccarino Stepping Down of Elon Musk's X
00:41:03 - Amrita Sen, Energy Aspects Founder
00:46:01 - USD Turnaround
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