US President Donald Trump has announced plans to impose a 50% tax on copper imports, signaling a more aggressive trade policy if re-elected. Speaking during a cabinet meeting, Trump said his administration is actively working on the copper issue as part of a broader investigation into metal imports.
In addition, Trump hinted at an even higher tariff on pharmaceutical products, possibly reaching up to 200%. He warned pharmaceutical companies that unless they shift their production to the US, they would face steep tariffs after a grace period. “We’ll give them about a year and a half to relocate, after which heavy tariffs will apply,” he said.
Trump also stated that Washington will soon make a formal announcement on pharmaceuticals, which will expand the list of tariffs his team has introduced across several sectors since January.
Previously, his administration had already imposed new duties on steel, aluminum, and automobiles, alongside threats of a 10% blanket tariff on nearly all trade partners. Trump has now also ordered investigations into imports of wood, semiconductors, and critical minerals, raising concerns about further taxes.
The proposed policies reflect Trump’s renewed push for domestic manufacturing and trade protectionism, which could have far-reaching effects on global trade dynamics, especially for countries heavily reliant on US exports.