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Trump says he will impose 50% tariff on copper

UNITED STATES, JUL 9 – President Trump plans a 50% tariff on copper imports to protect domestic industry and will delay pharmaceutical tariffs by up to 18 months, citing national security under Section 232.

  • President Donald Trump announced Tuesday that he will apply a 50% tariff on copper imports and intends to implement steep taxes on pharmaceutical products.
  • This move follows earlier Section 232 probes into copper and pharmaceuticals launched earlier this year to assess import impacts on domestic industries.
  • The tariffs target imports from 14 countries, including key suppliers like Japan and South Korea, while Trump delayed reciprocal tariffs' return to August 1.
  • Copper futures rose over 10% to record highs after the announcement, while a Yale Budget Lab estimated the effective U.S. tariff rate rose to 17.6%, the highest in nine decades.
  • The tariffs have unsettled markets and prompted warnings of retaliation from the EU, suggesting increased trade tensions and potential economic disruption ahead.
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U.S. President Trump imposes high tariffs on copper and threatens with further surcharges on drugs. The hope for a trade deal with the US drives the Dax to a record high. Jürgen Molnar, capital market strategist, analyses the situation in conversation with Dietmar Deffner.

·Dortmund, Germany
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The US wants to prove copper with an inch of 50 percent in order to become more independent of imports. The goal is understandable, the remedy harmful. There are better ways.

·Zürich, Switzerland
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Mises Institute broke the news in on Tuesday, July 8, 2025.
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