Market News — Shev IO

8 July 2026, 17:35 | Trade Policy & Macro

Trump Raises Global US Tariff Rate to 15% After Supreme Court Setback

President Trump said the US will raise its new global tariff to 15% from 10%, a day after the Supreme Court ruled 6-3 that his use of emergency powers to impose earlier tariffs was unconstitutional. The new rate, set under a different legal authority, is lower than many of last year's country-specific duties but higher for some trading partners, while Brussels says the impact on the EU economy will be limited.

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Eleanor Hayes

Head of Trade Policy Research

Brazil Coffee Harvest Delays Fuel Fresh Jump in US Coffee Prices

Delays in Brazil's coffee harvest are being linked to a renewed rise in US coffee prices, even as reports point to easing supply conditions elsewhere in the global market. Brazil's position as the world's largest coffee producer means slower-than-expected harvesting there is rippling through pricing despite looser supply pressure in other regions.

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Isabella Romano

Senior Food & Beverage Trade Analyst

Hormuz Tanker Attacks Trigger US Sanctions Move, Oil Price Surge

Iranian attacks on three commercial vessels in the Strait of Hormuz, including a Qatari LNG carrier, prompted new US strikes on Iran and the revocation of a sanctions waiver on Iranian oil sales. Brent crude jumped as much as 6% intraday, tankers made U-turns, and the IMO urged ships to avoid the waterway.

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Priya Raghavan

Energy Markets Analyst