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Trump says he’ll set 50% copper tariff, wait year on drug levies
President Donald Trump said he planned to implement a 50% duty on copper imports as part of a set of looming sectoral tariffs, while also indicating he could offer pharmaceutical manufacturers at least a year before applying a crippling 200% tariff on their foreign-made products.
Trump told reporters during a Cabinet meeting on Tuesday he was still planning tariffs on select industries, including drugs, semiconductors, and metals.
“I believe the tariff on copper we’re going to make it 50%,” Trump said when asked by a reporter what the rate on those products would be. Copper futures in New York surged as much as 17% after Trump’s comments, the largest intraday gain in data going back to at least 1988.
Read more: https://www.bloomberg.com/news/articles/2025-07-08/trump-says-he-ll-set-50-copper-tariff-wait-year-on-drug-levies
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Published Jul 9, 2025