# [WARNING] Trump Announces Sweeping New Tariffs on 60 Trade Partners

*Thursday, July 23, 2026 at 10:21 PM UTC — Hamer Intelligence Services Desk*

**Detected**: 2026-07-23T22:21:11.899Z (3h ago)
**Tags**: MARKET, trade, tariffs, macro, metals, FX
**Sources**: OSINT
**Permalink**: https://hamerintel.com/data/alerts/16094.md
**Source**: https://hamerintel.com/summaries

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**Summary**: The U.S. will impose new tariffs on 60 trade partners as prior global duties expire, with new Section 301 measures replacing Section 122 by July 24. While key commodities are reportedly exempted in separate guidance, broad-based tariffs still threaten global growth and could pressure industrial commodities via demand destruction.

## Detail

1) What happened:
A breaking report states that President Trump has announced sweeping new tariffs on 60 trade partners as existing global duties expire. A U.S. official separately confirms that Section 122 duties will end July 24 and be replaced by new Section 301 tariffs. Previous alerts note that key commodities receive exemptions, but the breadth (60 partners) and the shift in legal basis (301 vs 122) underscore a structural re-escalation of trade tensions.

2) Supply/demand impact:
On the supply side, exemptions for major commodity flows (as flagged in prior related alerts) should limit direct disruption to physical trade in oil, key metals, and some agricultural staples. However, secondary effects matter:
- Higher end-use costs on manufactured goods and intermediate inputs can dampen global manufacturing and investment.
- Slower global and especially trade-sensitive growth reduces forward demand for industrial metals and energy.

Quantitatively, without full tariff schedules it is hard to model, but a renewed multi-front tariff regime across 60 partners could shave several tenths of a percentage point off global trade growth expectations. Historically, similar moves (2018–2019 U.S.–China tariffs) coincided with 10–20% drawdowns in copper and cyclical commodities versus peaks as markets priced slower global growth.

3) Affected assets and direction:
- Industrial metals (copper, aluminum, zinc, nickel): Bearish bias via growth and manufacturing demand concerns.
- Bulk commodities (iron ore, coking coal): Mildly bearish on global steel-cycle sentiment.
- Energy (Brent/WTI): Growth-demand negative, but currently overshadowed by Iran/Gulf risk premium; net effect may be to cap upside rather than reverse it.
- Risk FX (EM FX vs USD): Negative, particularly for trade-exposed EMs and surplus economies.
- Global equities with heavy export exposure: Negative; could feedback into weaker confidence and commodity demand.

4) Historical precedent:
The 2018–2019 tariff waves showed that even when direct commodity lines were partially exempt, sentiment effects toward global trade significantly hit industrial commodities, with copper and other base metals suffering persistent weakness as PMI data rolled over.

5) Duration:
These tariffs are policy- and cycle-driven rather than event-driven, implying a structural effect (months to years) unless reversed by negotiation. Expect sustained risk premia in trade-sensitive FX and an overhang on industrial commodity demand.

**AFFECTED ASSETS:** Copper, Aluminum, Zinc, Nickel, Iron Ore, Coking Coal, Brent Crude, WTI Crude, EM FX basket, CNY/USD, Global industrial equities