US President Donald Trump said on Tuesday that he plans to announce tariffs on imported semiconductors, pharmaceuticals and copper. He said tariffs for medicines could be as high as 200 per cent. He said he would announce a 50 percent tariff on copper, aimed at boosting U.S. production of the metal, which is crucial for electric vehicles, military hardware, power grids and many consumer goods.
“If they have to bring medicines into the country, they will be subjected to very, very high tariffs,” Trump told reporters after a Cabinet meeting at the White House. Like 200 percent. We will give them a certain time to organize their work. They will be given one-and-a-half years. Trump talked about his plan to announce a tariff on copper, but did not say when the tariff would be implemented. He said, I think the tariff on copper will be 50 percent.
US Commerce Secretary Howard Lutnick said in an interview on Tuesday that the copper tariffs would likely go into effect by the end of July or August 1. Copper is used in construction, transportation, electronics, and many other industries. The United States imports about half of its copper needs each year.
The countries most affected by US tariffs on copper will be Chile, Canada and Mexico, which were the top suppliers of refined copper, copper alloys and copper products to the US in 2024, according to US data.
US President Donald Trump said on Tuesday he will announce semiconductor tariffs as well as a separate announcement on pharmaceuticals very soon.
At the same time, Trump also warned of imposing 10 percent tariff on BRICS countries. He said that I will take a decision on this soon. BRICS includes Brazil, Russia, India, China and South Africa. Speaking to the media at the White House, Trump said, ‘The countries included in BRICS will soon have to pay a duty of 10 percent. BRICS was established to harm America.