Amid new announcements related to tariffs on various countries and economic activities, US President Donald Trump included a 50 % tax on copper imports.

In a meeting with his cabinet on Tuesday, July 8, Trump announced this new tariff “on all copper imported into the United States, but did not specify an effective date.”

The US president added that he is planning other tariffs “for selected industries, including pharmaceuticals, semiconductors, and metals.” Commerce Secretary Howard Lutnick added that the department has completed its investigation into copper, so the 50 % tax could begin to be implemented by the end of July or possibly August 1.

Trump also mentioned a tax of up to 200 % on foreign-made pharmaceuticals, “but this might not go into effect anytime soon in order to get more companies to relocate to the United States.”

M.Pino

Source: xinhua

(Reference image source: Francisco Fernandes en Unsplash)

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