Tariff time, Lula defiant, Trump targets semiconductors and ChatGPT-5

U.S. President Donald Trump’s higher tariff rates come into effect hitting dozens of global major trading partners - and semiconductor chips are next in his sights, with 100 percent tariffs threatened for companies who don't manufacture in the U.S. Brazil's President Luiz Inacio Lula da Silva says he sees no room for direct talks with Trump for now. And OpenAI readies to release the long-awaited GPT-5. Sign up for the Reuters Econ World newsletter here. Listen to the Reuters Econ World podcast here. Find the Recommended Read here. Visit the Thomson Reuters Privacy Statement for information on our privacy and data protection practices. You may also visit megaphone.fm/adchoices to opt out of targeted advertising. Learn more about your ad choices. Visit megaphone.fm/adchoices