President Donald Trump said Tuesday he plans to impose a fifty percent tariff on copper imports as part of a new wave of industry-specific trade measures, while suggesting pharmaceutical manufacturers may receive at least a year’s reprieve before facing steep new duties.
“I believe the tariff on copper—we’re going to make it 50 percent,” Trump told reporters during a Cabinet meeting at the White House. His remarks sent copper futures soaring, with prices in New York rising as much as 17 percent—the largest intraday jump since at least 1988.
The copper duty is part of a broader initiative under Section 232 of the Trade Expansion Act of 1962…
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