On the eve of the final ultimatum on tariffs, Trump intensively punches.

Notice that Trump launched a series of tariff actions and demands on the eve of the deadline on Friday, including unexpected measures against India and copper products. The US president is trying to establish a new global trade order. On Wednesday, Trump announced a 15% tariff on imports from South Korea (equal to the tax rate in neighboring Japan), and imposed a 25% punitive tariff on India, while criticizing its purchases of Russian energy and weapons, putting pressure on Prime Minister Narendra Modi. With Thailand and Cambodia agreeing to a ceasefire on Monday, and agreements with both countries imminent, this reinforces Trump's goal of shaping an image as a global mediator. Malaysian Prime Minister Anwar Ibrahim revealed that Trump has informed that he will announce tax measures against Malaysia on Friday. "Hope the new tariffs will not cause a huge burden on our economy," Anwar told lawmakers. Trump also shocked the market with new tariffs on copper products, causing a record drop in copper prices in New York after exempting 50% tariffs on most mainstream trading categories. This tariff storm comes on the eve of the August 1 deadline, with the White House threatening to impose retaliatory tariffs on countries that have not reached bilateral agreements - and most countries have not reached agreements. Trump claims that global tariffs will range from 15% to 50%, and believes that these policies can lead to the reshoring of manufacturing, increase government revenue, and give him a huge leverage over export countries that rely on the US consumer market. Rob Subbaraman, chief economist of Nomura Holdings, said, "What we are seeing today is a flood of details that confirm the old saying, 'Can't see the forest for the trees,' but in essence, Trump has basically fulfilled his tariff threats. Right now it's just too noisy." Most countries that have reached agreements have received more favorable tariff rates European stock markets rose due to strong earnings reports from tech companies and positive sentiment in US futures markets, but Asian stock markets fell, with currency exchange rates hitting a two-month low. Most countries have not reached trade agreements, and key details of agreements that have been reached are quite lacking - including potential exemption clauses, investment commitments, and changes in rules of origin. In the slow rollout of Trump's new trade order, this uncertainty and chaos has impacted global economic growth and restrained investment, although markets remain optimistic. Alicia Garcia Herrero, chief economist for Asia Pacific at French bank Natixis, said, "These agreements are all being pushed forward at breakneck speed - and this is really not a good sign." She stated that these tough agreements force countries to reach agreements to avoid potentially higher tariffs, but ultimately may lead to greater economic losses for these countries. US-China relations currently remain positive. Trump said at the White House on Wednesday that the US will reach a "very fair deal" with China. Trade dynamics not only involve overseas matters. American consumers and small businesses will soon face higher transportation costs, as Trump announced that from August 29, tariffs will be imposed on "micro freight" worth less than $800. This type of freight was originally a boon for consumers and retailers (many of whom are based in China) as it allowed for direct shipment of products. Brazil received unexpected tariff exemptions for multiple goods, pushing its currency and stock market up. Meanwhile, Bloomberg News reported that Trump will speak with Mexican President Claudia Shinbaum on Thursday morning, leading to a stronger peso. Canadian Prime Minister Mark Carney said on Wednesday that negotiations with the US may not be completed before the deadline on Friday. The prospect of reaching a better deal further dimmed after Trump posted on Truth Social that Canada's decision to support the establishment of a Palestinian state "will make it difficult for us to reach a trade agreement with them." The 15% tariff on South Korea covers the auto sector, as well as a $350 billion investment plan in the US (involving energy and shipbuilding). Trump stated that similar to Japan, he will personally oversee these investments. Commerce Secretary Howard Lutnick said on the X platform that 90% of the profits from the two countries' investment funds will flow back to the US. For India, Trump threatened that in addition to imposing a 25% tariff on imported products from India, there will be additional unspecified penalties for its purchase of Russian energy. This will put a range of industries at risk, including clothing and jewelry manufacturers. Given that China also imports a large amount of Russian oil, any measures related to Russian oil may be mentioned in negotiations with China. Since the US invasion of Ukraine in 2022, Moscow has been a target for the US. Oil prices remained near their highest levels in nearly six months on Thursday.