President Donald Trump said he will impose a 50% tariff on copper imports on Tuesday, and suggested more steep sector-specific duties are on the way.
“Today, we’re doing copper,” Trump said during a Cabinet meeting at the White House. “I believe the tariff on copper, we’re going to make it 50%.” He did not say specifically when that tariff would take effect.
Trump also said he would soon announce tariffs “at a very, very high rate, like 200%,” on pharmaceutical imports.
Pharmaceutical companies could have up to a year and a half to start producing their products in the U.S. before those new tariffs take effect, Trump added.
Copper prices jumped to a record high after Trump’s abrupt announcement and ended the trading day up 13.12% for the best one-day gain since 1989.
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Trump says he will impose 50% tariff on copper imports
- by: Kevin Breuninger
- 07.08.25
- Source:
CNBC
- 07/09/2025
Container terminal, Port of Manila. by PortCalls Asia is licensed under Unsplash unsplash.com
Container terminal, Port of Manila. by PortCalls Asia is licensed under Unsplash unsplash.com
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