WASHINGTON, July 25 (Reuters) - U.S. President Donald Trump is unlikely to follow through on his threat to place 100% tariffs on countries that buy Russian oil because it would worsen politically-damaging inflation pressures and his similar threat against buyers of Venezuelan oil has had limited success, especially in China.

China’s budget deficit climbed to a fresh record in the first half, highlighting intensified government efforts to shore up domestic demand as Donald Trump’s tariffs reduce exports to the US.

Some commodities have also been subject to individual tariffs. Trump recently announced a 50% tariff on copper imports, effective from 1 August. Steel and aluminium imports are already subject to a 50% tariff from most countries, though in the UK’s case this is 25%.

With inflation creeping back into the US economy, it's as important as ever to have a firm grasp on Donald Trump's tariffs and what they mean.

President Donald Trump is set to meet with European Commission chief Ursula von der Leyen in Scotland to discuss trade. Both sides are seeking an agreement on tariff rates.

From Trump’s tariff-fueled ceasefire push in Southeast Asia to political deadlock in Taiwan, a deadly courthouse siege in Iran, and the massacre of Christians in Nigeria’s Plateau State, the world feels like it’s teetering on a knife’s edge—and the blade’s getting sharper.

GOBankingRates.com I Asked ChatGTP What Trump’s China Deal Means for the Middle Class — Here’s What It Said Lock in rates for mortgage and loans sooner rather than later as uncertainty may affect financial markets. Track CPI and Fed signals. These reflect tariff-driven inflation trends.

China trade has reached a "good place" with reduced tariffs, but said China's 30% share of global manufacturing is unsustainably imbalanced.