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Nothing happened today in the financial markets. The prices of stocks, bonds, the dollar, and oil all were relatively flat. On the other hand, there was more Trump Tariff Turmoil (TTT). But the markets watched it all with as much interest as watching reruns on TV. President Donald Trump huffed and puffed again. The financial markets' reaction was ho-hum.
Trump today announced plans to impose a 50% tariff on copper imports and a 20% duty on pharmaceuticals. He also warned there would be "no extensions" to his new date for when tariffs would take effect, August 1, having pushed the effective date out from July 9 on Monday. Ho-hum.
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