Trump Imposes Copper Tariff, Threatens Pharma Tariffs

President Donald Trump has announced a 50% tariff on copper imports, which will take immediate effect following the conclusion of a recent investigation, as part of a significant escalation in U.S. trade policy. He has also threatened a 200% tariff on pharmaceutical imports, with final decisions pending the completion of ongoing investigations by the end of the month. Pharmaceutical companies will have a grace period of about a year to 18 months to adjust supply chains before the duty is enforced. Commerce Secretary Howard Lutnick stated these actions aim to encourage manufacturers to relocate production to the U.S., impacting major exporters like Australia and India. Additionally, a broad 10% tariff on nearly all U.S. trading partners is set to take effect on August 1, 2025, with no extensions planned. The measures have already caused volatility in copper prices and raised concerns among drugmakers and consumers over potential supply chain disruptions and increased costs.