Trump slaps massive tariffs on Copper, Pharma in trade power play
U.S. President Donald Trump has doubled down on his aggressive trade agenda, ruling out further extensions for country specific tariffs set to take effect on August 1, 2025.
Trump also signaled additional levies on copper and pharmaceuticals, escalating tensions with major trade partners.
Speaking during a Cabinet meeting and on his social media platform, Truth Social, Trump said the long promised tariffs, originally announced in April, would be implemented without delay, warning that retaliatory measures from other countries would result in even higher U.S. tariffs.
Among the most striking announcements was a 50 percent tariff on copper imports, which immediately impacted U.S. futures markets and sent shockwaves through the global commodities sector. Trump also revealed plans to impose tariffs of up to 200 percent on pharmaceutical products unless manufacturers shift production to the U.S. within the next 12 to 18 months.
The announcements follow an executive order issued Monday that extended the tariff implementation date by three weeks, sparking speculation about a possible softening of Trump’s trade stance. But Tuesday’s remarks firmly shut that door, with Trump stating unequivocally that “no extensions will be granted.”
Trump’s latest trade actions include:
A 50 percent tariff on copper products
Up to 200 percent tariffs on imported pharmaceuticals
New country specific duties: 25 percent on Japan and South Korea, 30 percent on South Africa, and 40 percent on Laos and Myanmar
Additional tariff letters expected to be sent to 15 to 20 countries in the coming days
A blanket 10 percent levy on BRICS countries, including India, despite ongoing trade talks
Although progress has been reported with the EU and India, Trump expressed frustration over unresolved issues such as digital services taxes and penalties targeting the U.S. tech sector. He hinted at imminent tariff letters being sent to European partners despite recent diplomatic engagements.
Trump reiterated his belief that many international trade arrangements disadvantage the United States, stating that other countries have treated America “far worse” in past trade dealings.
Markets responded with caution. The S&P 500 fluctuated, longer term U.S. Treasury yields fell, and Asian markets posted losses for the third time in four sessions.
The U.S. president has long used the threat of tariffs as a tool to pressure trade partners and boost domestic manufacturing. Despite his aggressive rhetoric, only a few trade frameworks, notably with the U.K. and Vietnam, have been concluded, and even those remain incomplete.
