Trump’s latest statement! Related interest rate cuts, sanctions against Russia, threats to impose high tariffs on copper and drugs, etc.

**Source: National Business Daily**  

According to CCTV News on July 9, local time on July 8, U.S. President Donald Trump delivered remarks during a cabinet meeting, covering topics such as Federal Reserve interest rate cuts and the Ukraine issue.  

### **Considering Sanctions on Russia and Approving Arms Shipments to Ukraine**  

Trump stated that he is "very dissatisfied" with Russian President Vladimir Putin and is seriously considering imposing sanctions on Russia. He also confirmed that he has approved the delivery of certain defensive weapons to Ukraine.  

Previously, on July 7, during a White House dinner with visiting Israeli Prime Minister Benjamin Netanyahu, Trump announced that the U.S. would provide additional weapons to Ukraine for self-defense. In response, Dmitry Medvedev, Deputy Chairman of Russia’s Security Council, stated on social media on the 8th that Russia need not react to Trump’s remarks on Ukraine and should instead focus on achieving the objectives of its special military operation and securing victory.  

### **Powell Should Resign**  

On the 8th, Trump reiterated his call for Federal Reserve Chair Jerome Powell to resign immediately.  

Additionally, Trump posted on his social media platform, Truth Social, citing a new study by the Council of Economic Advisers (CEA) that found tariffs have "no impact on inflation." In fact, the study suggests import prices are actually declining. Trump criticized "fake news" and so-called "experts" for being wrong again, asserting that tariffs are bringing "prosperity" to the U.S., with new factories, jobs, and trillions in investment pouring in.  

Trump further suggested that Powell—whom he dubbed "Mr. Too Late"—should review the study, accusing him of complaining about "non-existent inflation" for months and failing to take appropriate action. Trump emphasized that it is time for interest rates to be cut.  

### **Considering Federal Takeover of Washington, D.C. Governance**  

During the meeting, Trump also mentioned exploring a federal takeover of Washington, D.C.'s governance.  

He stated that the administration does not want crime in the capital and aims to ensure the city functions properly. White House Chief of Staff Susie Wiles is working closely with the mayor, and the administration will identify the best candidate to manage the city.  

### **Proposing Air Traffic Control Modernization Company**  

Trump expressed his desire to establish a company dedicated to modernizing air traffic control systems. Raytheon and IBM will participate in the bidding, with the system expected to take two years to complete. Trump indicated that a contract could be signed in the coming months.  

This follows the resignation of the head of the Federal Aviation Administration’s Air Traffic Organization in April amid a series of aviation incidents.  

Additionally, Trump noted during the cabinet meeting that discussions are underway with various countries to increase military contributions.  

### **Trump Threatens 50% Copper Tariff, 200% Drug Tariff—U.S. Copper Prices Surge Over 10%**  

During the cabinet meeting on July 8, Trump announced, "We will soon unveil major measures in the pharmaceutical sector." He stated that companies would be given "about a year to a year and a half to adjust," after which they would face tariffs. He added, "If they must import pharmaceuticals and related products into the country, tariffs could be as high as 200%."  

Furthermore, after Trump suggested imposing a 50% tariff on copper imports, U.S. copper prices surged over 10%, hitting a record high in New York markets.  

### **UNCTAD: New U.S. Tariffs Heighten Risks of Trade Fragmentation**  

On July 8, the United Nations Conference on Trade and Development (UNCTAD) released its *Global Trade Update* report. The report indicated that global trade grew by approximately $300 billion in the first half of 2025, with Q1 growth at 1.5% and Q2 expected to accelerate to 2%. Services trade remains the primary driver and is likely to maintain strong growth.  

UNCTAD warned that persistent policy uncertainty, geopolitical tensions, and signs of slowing global growth pose risks to trade in the second half of the year. Whether resilience can be sustained will depend on policy clarity, geoeconomic developments, and supply chain adaptability. The new U.S. tariffs exacerbate the risk of trade fragmentation, as unilateral actions could escalate, spill over to third-party nations, and destabilize supply chains.  

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