US President Donald Trump on Tuesday introduced plans to impose a 50% tariff on copper imports, whereas warning of a a lot steeper responsibility on prescription drugs that might come into impact after a grace interval of at least a yr. “Today we’re doing copper,” Trump stated throughout a cupboard assembly, signalling motion in an ongoing investigation into the nation’s copper imports. He added that Washington would quickly situation a separate announcement on the pharmaceutical sector, increasing the checklist of industry-specific tariffs launched by his administration since January. However, the president famous that pharmaceutical corporations would be given time to shift their operations to the United States earlier than the new tariffs are enforced. “We’re going to give people about a year, a year and a half to come in, and after that, they’re going to be tariffed,” Trump stated. “They’re going to be tariffed at a very, very high rate, like 200 percent,” he added. “We’ll give them a certain period of time to get their act together.” Earlier this yr, Trump had already launched a sweeping 10% tariff on almost all US buying and selling companions and threatened to impose greater charges tailor-made to particular person economies. His administration has additionally imposed tariffs on metal, aluminium and cars. In addition to copper and prescription drugs, Trump has ordered investigations into imports of lumber, semiconductors and significant minerals, which may doubtlessly lead to extra duties.Earlier on Tuesday, the US President took to Truth Social, saying that the new tariff charges on numerous international locations will be relevant from August 1, 2025. He stated, “There has been no change to this date, and there will be no change. In other words, all money will be due and payable starting AUGUST 1, 2025 – No extensions will be granted. Thank you for your attention to this matter!”