U.S. President Donald Trump announced plans to impose a 50% tariff on imported copper and soon introduce high tariffs on semiconductors and pharmaceutical products.
New steps expand the U.S. trade war, which is already raising concerns in global markets. Trump also confirmed his threats to impose a 10% tariff on goods from Brazil, India, and other BRICS countries.
Despite this, the president noted that negotiations with the EU and China are progressing well, but he plans to send an official letter to the EU about the new tariffs in just a few days.
'It is time for the United States of America to start getting money from the countries that have been robbing us and laughing behind our backs,' Trump stated during a Cabinet meeting at the White House.
Copper futures in the U.S. rose by more than 10% following the announcement of new tariffs. Copper is strategically important for the production of electric vehicles, military equipment, and energy infrastructure.
Shares of American pharmaceutical companies fell after Trump mentioned the possibility of imposing a 200% tariff on imported drugs. However, according to him, these tariffs could be postponed for about a year.
Other countries meanwhile stated that they will work on mitigating the consequences of possible tariffs after Trump moved the deadline for their implementation from Wednesday to August 1.
The Trump administration previously promised '90 deals in 90 days', but only two have been concluded so far — with the United Kingdom and Vietnam. The president stated that the deal with India is in its final stages.
Trump announced that he plans to issue at least seven announcements regarding new tariffs on Wednesday, with even more in the second half of the day.
U.S. trading partners emphasize that the chaotic announcement of tariffs complicates even the signing of basic agreements and internal discussions on possible concessions.
The State Department assured that Trump is determined to provide Ukraine with weapons.
U.S. State Department spokeswoman Tammi Bruce stated that the United States remains committed to supporting Ukraine and will continue to supply weapons to Kyiv, despite a recent pause.
The brief pause in arms supply was only part of a planned review of all military aid programs, not a change in course.
'We were and remain the biggest supporters of Ukraine. We care about these people, we care about ensuring they have everything they need,' Bruce emphasized.
She emphasized that U.S. President Donald Trump is 'determined' to provide Ukraine with everything necessary for self-defense, especially in light of the mass killings and the need to achieve a ceasefire.
Czech companies supply sanctioned goods to Russia.
Several Czech companies continue to export goods to Russia, violating EU sanctions, according to the Czech news site Deník N, citing customs data. Eight Czech firms are suspected of circumventing export restrictions to Russia. According to customs documents, goods from these companies, including machines that fall under EU sanctions, reached Russia in 2023. In one case, the export was carried out through Serbia. The equipment passed through two Serbian firms that only started operating after the full-scale Russian invasion. Neither has prior experience, and both lack websites. They appear to operate primarily as intermediaries.
Border checks are becoming the new norm for Schengen Zone countries.
The Schengen Area is increasingly being dismantled. First introduced 40 years ago in 1985 and then recognized as one of the defining achievements of the bloc, the Schengen zone allowed people, goods, and services to travel freely across 27 countries: 23 EU states, as well as Norway, Switzerland, Iceland, and Liechtenstein. However, this freedom has been repeatedly tested since 2015, when the sharp increase in the number of refugees and migrants, mostly from the Middle East, prompted the reintroduction of internal border controls.
According to the rules of the Schengen Agreement, member states have the right to temporarily reinstate border control, but only in the presence of a serious threat to public order or internal security. However, as of July, 11 Schengen Zone countries have reinstated border controls at their internal borders. Just on Monday, Poland reinstated border control for vehicles entering from Germany. Member states have effectively exceeded what they are actually allowed to do under EU legislation. The dismantling of the free movement zone undermines the foundations of the eurozone. Border checks risk making tourism more expensive and complicating daily commutes for 1.7 million cross-border workers in the Schengen Zone. This alone could cost between 3 to 4 billion euros annually. Add to this about 200 million annual cross-border trips and millions of freight trucks, and the total economic losses could easily double.
Toyota returns to gasoline SUVs.
Toyota will focus on selling gasoline SUVs due to falling electric vehicle sales. Last month, Toyota sold 1,223 units of the bZ4X model, its only electric SUV in the U.S. This is down from nearly 1,400 units sold in June 2024, despite updates to the model for the 2025 model year. The luxury car brand Lexus is also struggling to sell its electric SUV RZ. Last month, sales of the Lexus RZ fell by 30% to only 763 units. In the first half of 2025, RZ sales fell by a third — only 3,779 units were sold. As problems persist, Toyota is delaying the release of other electric vehicle models, refocusing on gasoline-powered SUVs. Toyota will increase production of the Grand Highlander in Indiana. In the first half of 2025, sales of the Toyota Grand Highlander accounted for 20%, with over 65,000 units sold.
Fossil fuels remain the foundation of progress.
Every June, the annual Statistical Review of World Energy and Energy Geopolitics is published. On June 26, 2025, the Energy Institute published the latest version containing data for 2024. This data allows us to conclude that not much has changed: the world continues to significantly rely on fossil fuels. Globally, the expansion of renewable energy sources lags behind the growth in energy demand, with fossil fuels accounting for a significant portion of this growth. Instead of a definitive energy transition, the world is currently experiencing a phase of energy addition, where new renewable sources complement rather than replace traditional energy sources. In 2024, global energy supply increased by 2%, driven by rising demand for all forms of energy. Fossil fuels remain the foundation of the global energy system, accounting for 86.6% of total energy consumption. It is important to note that this share is significantly higher than the commonly accepted estimate of 80% (in the EU, fossil fuels account for 73.4%, despite increased consumption of renewable energy). Nuclear energy produced 5.2%, hydropower 2.7%, and wind and solar energy, along with other renewable sources, accounted for 5.6%. Outside the EU, fossil fuel growth outpaces renewable energy growth by 7.3 times. In other words, while modern renewable energy is expanding, fossil fuel use is growing more than seven times faster. Contrary to the common belief in the EU that the gap between renewable energy and fossil fuels is narrowing, the reality is that the gap is widening. EU leadership is merely symbolic, as the rest of the world accelerates fossil fuel use more than renewable energy use. When a leader realizes that no one is following, they must reconsider whether they are truly a leader. Globally, coal remains the dominant fuel for electricity generation, accounting for more than a third of total production. In contrast, in the EU, renewable sources, primarily wind and solar, make up more than a third of the electricity production structure, significantly exceeding coal. Nuclear energy also plays a more prominent role in the EU than on a global scale. Although nuclear energy accounts for less than 10% of global electricity production, it accounts for about a quarter of electricity supply in the EU. Furthermore, natural gas constitutes only 15% of electricity production in the EU, while it accounts for nearly a quarter of the global total. These differences underscore the unique composition of the EU's energy portfolio, reflecting policy choices and the availability of regional resources. Therefore, it is unlikely that electricity production in the EU will serve as a model for future global development, regardless of the energy source. This indicates that the world is experiencing a phase of 'energy addition' rather than a true transition — renewable sources complement rather than replace fossil fuels. The report highlights the striking contrast between the EU's ambitious energy transition policy and global reality. Outside the EU, energy policy is primarily driven by economic growth and energy security, with less emphasis on emissions reduction. This divergence underscores the limited global impact of the EU energy transition and the complexity of achieving significant global emissions reductions. It is highly unlikely that these trends will reverse. As a result, the gap between climate ambitions and the reality of global energy consumption will only widen. The failure to meet declared climate goals is now so evident that hiding the scale of this failure will become increasingly difficult.
News in brief
At night, Lutsk experienced the largest Russian attack by drones and rockets.
The death toll from the sudden floods that occurred in Texas has reached 104. An unknown number of people are considered missing.
In response to a petition calling for the decriminalization of adult content production, Zelensky stated that the Verkhovna Rada is already considering a bill proposing to decriminalize pornography.
Bulgaria will switch to the euro on January 1, 2026.