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📍 Washington, D.C. — July 8, 2025
President Donald Trump has announced plans to introduce new tariffs on copper and pharmaceutical products, signaling a significant expansion of his administration’s trade agenda. While the tariffs are not yet in effect, officials indicated their rollout timelines and enforcement mechanisms are under review.
đźź Copper Tariff Proposal: 50% Rate During a Cabinet meeting, Trump stated that a 50% tariff on copper imports is being considered, aimed at revitalizing domestic production. Commerce Secretary Howard Lutnick noted that the measure could be enacted as early as August 2025, pending formal procedural steps.
Trump commented, “Today, we’re doing copper,” emphasizing the importance of reshoring copper manufacturing to support U.S. industrial resilience. The announcement prompted a spike in global copper prices, with futures rising to a record $5.8955 per pound, reflecting market anticipation.
đź’Š Pharmaceutical Tariff: 200% Under Review The administration is also evaluating a 200% tariff on imported pharmaceuticals, with implementation expected after a 12 to 18-month notification window to give manufacturers time to adjust supply chains. No specific date has been set for enactment, and further regulatory and legal review is ongoing.
Australian Treasurer Jim Chalmers raised concerns over the proposal’s potential impact on global pharmaceutical trade, stating, “Our pharmaceuticals industry is much more exposed to the U.S. market, and that’s why we’re urgently seeking more detail.”
⚙️ Next Steps and Broader Agenda Trump indicated that additional tariff measures—including a forthcoming semiconductor tax—would be revealed in the coming days. The proposals are part of a broader push to repatriate manufacturing and reduce strategic dependency on foreign suppliers, though stakeholders have urged caution amid inflationary risks and diplomatic tensions.
As of now, no formal rulemaking or legal enactment has occurred, and the U.S. Trade Representative and Commerce Department are expected to issue detailed guidance in the weeks ahead.
đź“„ Source: Excerpts from AZZET article by Harlan Ockey.
