5th July 2025 – 11th July 2025
LOCAL NEWS
No news reported.
INTERNATIONAL NEWS
1. Trump sets 50% US tariffs on copper, Brazilian imports starting in August
On 10 July 2025, U.S. President Donald Trump announced significant new tariffs to take effect from 1 August 2025, escalating his trade war strategy:
Copper Tariff
- A 50% tariff will be imposed on all U.S. copper imports, following a Section 232 national security assessment.
- Trump justified the move by citing the strategic importance of copper for semiconductors, electric vehicle batteries, aircraft and military equipment.
- The announcement caused a rush to import copper from alternative suppliers such as Chile.
Brazil Tariffs
- A 50% tariff will also apply to imports from Brazil, up from the current 10%, as a retaliatory measure.
- The decision was communicated via a formal letter to President Lula da Silva, referencing political tensions and criticism of Brazil’s stance on free speech and digital platform regulations.
- Trump also ordered a Section 301 investigation into Brazil’s digital trade practices, which may lead to further tariffs.
- Brazil warned it would respond in line with its domestic laws.
Potential Trade War
- Experts warned that the measures could provoke a damaging trade war, particularly with Brazil.
- Brazil is the 15th largest U.S. trading partner, with $92 billion in two-way trade and a $7.4 billion U.S. surplus in 2024.
Tariffs on Other Countries
- Trump also announced tariffs on smaller trade partners:
- 20% on goods from the Philippines;
- 30% on Sri Lanka, Algeria, Iraq, and Libya;
- 25% on Brunei and Moldova;
- 35% on imports from Canada;
- Additional 25% tariffs were earlier issued for South Korea and Japan, to take effect 1 August unless agreements are reached.
Negotiations with the European Union
- Simultaneously, U.S.–EU trade negotiations are advancing to avoid further tariffs.
- EU trade chief Maros Sefcovic indicated that a deal might be concluded within days, after the U.S. extended its deadline from 9 July to 1 August.
- Talks reportedly include options like tariff reductions, import quotas, and credits to safeguard EU automotive exports.
Related Articles:
Reuters 10/07 - Trump sets 50% US tariffs on copper, Brazilian imports starting in August
CNBC 10/07 - Trump Brazil tariff cites same powers facing court challenge
Aljazeera 11/07 - Trump slaps 35 percent tariff on Canada starting August 1
2. War Risks Clauses webinar recording
BIMCO has published updated versions of its widely used War Risk Clauses VOYWAR 2025 for voyage charter parties and CONWARTIME 2025 for time charter parties.
These revisions reflect further lessons learned from evolving geopolitical risks and the impact of recent conflicts such as the war in Ukraine and attacks on commercial shipping in the Red Sea.
A recorded “45 minute webinar”, is now available, organised by members of the subcommittee that drafted the clauses highlighted the most notable changes – including updates on war risk insurance, additional premium transparency and liability, crew payments and how VOYWAR 2025''s new "open book" approach applies when calculating additional freight for re-routing.
Please tab the link below for the Webinar and more details on this action.
Related Article:
BIMCO 09/07 - War Risks Clauses webinar recording
3. US TREASURY REPORT
The US Treasury Report for all actions reported is hereby attached.
Related Article:
Attachment 1: US Treasury Report for week 05/07/2025 – 11/07/2025
4. PIRACY REPORT
The latest Piracy Report for all actions reported is hereby attached.
Related Article:
Attachment 2: Worldwide Threat to Shipping (WTS) Report, for the period between 04/06/2025 – 02/07/2025
Nothing important to report from the IMO, ILO and the House of Representatives.