President Trump announced a 50% tariff on copper imports, citing national security concerns. This follows a completed Commerce Department investigation. Copper prices surged 13.12% on the news. Trump also hinted at upcoming, even higher tariffs on pharmaceutical imports, potentially reaching 200%, giving companies up to 18 months to adjust. These actions are separate from previously announced reciprocal tariffs on various countries, scheduled to begin August 1st. The administration aims to boost domestic copper production.

Prepared by Christopher Adams and reviewed by editorial team.