Oil prices were steady on Thursday as investors weighed the potential impact of U.S. President Donald Trump's tariffs on global economic growth, while a weaker dollar and signs of strong U.S. gasoline demand underpinned prices.

President Donald Trump announced Wednesday he planned to hit Brazil with a 50% tariff, in part due to the treatment of its former president and his political ally, Jair Bolsonaro.

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.

Manufacturers and construction companies — as well as consumers — would face higher prices if the U.S. jacks up tariffs on copper, analysts said.

Trump also said he would soon announce tariffs “at a very, very high rate, like 200%,” on pharmaceutical imports.

By Rae Wee SINGAPORE (Reuters) -Asian stocks rose slightly on Thursday, riding on optimism from Nvidia's brief rise to a world-record $4 trillion valuation and as investors largely shrugged off U.S. President Donald Trump's latest tariff salvos.

U.S. Commerce Secretary Howard Lutnick said Tuesday that another batch of tariff letters was close to going out, followed by “a general letter” that would cover trading partners that didn’t get their own missives.

President Donald Trump vowed to push forward with his aggressive tariff regime in the coming days, stressing he would not offer additional extensions on country-specific levies set to now hit in early August while indicating he could announce substantial new rates on imports of copper and pharmaceuticals.