United States President Donald Trump has intensified global trade tensions by announcing new tariffs on a range of imported products, including copper, semiconductors, and pharmaceuticals, in a move that signals a deepening of the trade war with key international partners.

According to Reuters, Trump stated late Tuesday via his social media platform, Truth Social, that “a minimum of seven” new tariff notices would be issued on Wednesday morning, with more expected in the afternoon. He did not disclose the targeted countries but warned that further levies would follow.

The latest measures include a 50 per cent tariff on imported copper and forthcoming tariffs on semiconductors and pharmaceutical products.

The announcement came a day after Trump issued tariff letters to 14 trading partners, including South Korea and Japan, with new import duties ranging from 25 per cent upward, set to take effect from August 1.

On Wednesday, the Trump administration released another round of tariff letters targeting six additional countries. The countries affected include Algeria (30 per cent), Brunei (25 per cent), Iraq (30 per cent), Libya (30 per cent), Moldova (25 per cent), and the Philippines (20 per cent).

Despite the sweeping tariff measures, equity markets remained largely unaffected, while the Japanese yen continued to weaken following the imposition of levies on Japan.

Trump has defended the tariffs as a major revenue source for the U.S. economy. The U.S. Treasury Secretary, Scott Bessent, said the administration has already collected about $100 bn in tariffs and could reach $300 bn by the end of the year. Yale Budget Lab, a U.S.-based research group, estimates that the effective tariff rate on U.S. consumers has now risen to 17.6 per cent from 15.8 per cent, the highest level since 1934.

While escalating trade actions, Trump also hinted at progress in negotiations with major partners. He said trade talks with China and the European Union were “going well” and that the EU had become “much more cooperative.” He promised to communicate a proposed tariff rate on EU exports to the U.S. within the next two days.

European Union trade chief Maros Sefcovic confirmed to EU lawmakers that progress had been made on an outline trade agreement and that a deal could be finalised “in the coming days.” The United States has extended its deadline for talks with the EU to August 1, giving negotiators more time to reach an agreement.

However, Italian Economy Minister Giancarlo Giorgetti warned that discussions between the two sides remain “very complicated” and may continue right up to the new deadline.

Meanwhile, Massachusetts Governor, Maura Healey, a Democrat, criticised the administration’s aggressive tariff agenda, describing it as a “failed trade war” that is driving up costs for American consumers and hurting businesses.

Trump’s trade team had initially promised “90 deals in 90 days” after launching country-specific tariffs in April. So far, agreements have only been reached with Britain and Vietnam, with a potential deal with India still under negotiation.