Trump places tariffs on all copper imports
(MENAFN) U.S. President Donald Trump announced Tuesday that a 50 percent tariff will be placed on all copper imports, though no exact start date was provided for when the measure would be implemented.
Speaking during a Cabinet meeting, Trump stated: "I believe the tariff on copper, we're going to make it 50 percent," while also confirming that further tariffs are being planned for specific sectors, including pharmaceuticals, semiconductors, and metals.
Following the meeting, reports cited Commerce Secretary Howard Lutnick as saying that the department had concluded its investigation into copper and expected the tariff to take effect by the end of July, possibly on August 1.
Trump also indicated that tariffs as high as 200 percent may be applied to foreign-produced pharmaceutical products. However, he clarified that these duties may be delayed in order to encourage more pharmaceutical companies to relocate their manufacturing operations to the United States.
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