Brazil’s Currency Plunges, EU Damage Control, Money In Every Mile

Your morning briefing, the business news you need in just 15 minutes.

On today's podcast:

(1) Donald Trump’s threat to impose 50% tariffs on Brazilian goods sent the country’s currency plunging as the US leader sharply escalated a dispute with Latin America’s largest nation and leftist leader Luiz Inacio Lula da Silva.

 
(2) President Donald Trump said the US would begin levying a 50% tariff on copper imports from Aug. 1, confirming a move that will hurt American producers of everything from automobiles to appliances.

(3) Nvidia became the first company in history to achieve a $4 trillion market valuation, cementing its status as a kingpin in the global financial market.

(4) As the deadline for talks on US 'reciprocal' tariffs nears, Bloomberg Economics estimates the EU's best-case scenario - where the EU faces only 10% tariffs and no duties on cars, car parts, or metal products -- the tariff shock would drop to about 5.5 percentage points, down from 9 points under current policy.

(5) Running could turn around the fortunes of Puma SE and Adidas AG as they look to make up ground lost to new upstarts before US tariffs start to bite.

(6) The UK and French governments plan to order more of the Storm Shadow cruise missiles that they’ve been supplying to Ukraine, as well as accelerate efforts to develop a next-generation replacement for the weapons.

(7) On Wednesday, scientists released a first-of-its-kind rapid attribution study linking recent deaths in Europe due to climate change-linked extreme heat, which killed an estimated 2,300 people in 12 European cities, including Barcelona, between June 23 and July 2.

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