President Donald Trump announced on Tuesday the implementation of a new 50 percent tariff on all copper imported into the United States. He did not specify the exact date when this tariff would go into effect.
During a Cabinet meeting, Trump stated his intention to impose the copper tariff. He also mentioned his ongoing plans to implement tariffs on specific industries, including pharmaceuticals, semiconductors, and various metals.
Following the Cabinet meeting, a report indicated that Commerce Secretary Howard Lutnick stated his department had concluded its investigation into copper. He anticipated the new tariff would likely be implemented by the end of July or possibly August 1.
Trump also discussed the potential for new tariffs, possibly as high as 200 percent, on foreign-made pharmaceutical products. He suggested that these tariffs might be delayed to encourage more companies to relocate their operations to the United States.
5 Comments
Fuerza
Great news! This is how you bring jobs back to America and revitalize our economy!
Manolo Noriega
Trump is standing up to other countries and protecting American workers!
Fuerza
This is going to be inflationary, plain and simple. Prepare for higher prices on everything.
Ongania
This is exactly what we need to level the playing field. Finally, a president who cares about American workers!
Fuerza
This is disastrous! Copper tariffs will kill American manufacturing by raising costs.