United States President Donald Trump announced plans for a 50 percent tariff on all imported copper and a 20 percent levy on pharmaceutical products. Secretary of Commerce Howard Lutnick mentioned that the tariff on copper is expected to be implemented by late July or early August. Trump plans to impose a 200 percent tariff on foreign-made medicines in about a year. These tariffs aim to boost domestic production of copper and pharmaceuticals, critical sectors for the American industrial landscape.
President Donald Trump announced plans to impose a 50 percent tariff on all imported copper and a 20 percent levy on pharmaceutical products to boost domestic production.
Secretary of Commerce Howard Lutnick stated that the investigation into copper imports concluded and the levy would likely be implemented by end of July or August 1.
Trump indicated that a 200 percent tariff would be applied to foreign-made medicines in about a year's time, providing a one-year grace period for companies.
The new tariffs on copper and pharmaceuticals are distinct from prior country-wide tariffs and aim to encourage domestic production of these critical materials.
Collection
[
|
...
]