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Bloomberg Quint

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Image Credit: Bloomberg Quint

Trump Threatens 200% Tariff On Pharma Imports; Slaps 50% Levy On Copper

  • US President Donald Trump imposed a 50% tariff on copper imports while threatening a 200% tariff on pharmaceutical products.
  • Trump mentioned that pharmaceutical companies exporting to the US will have 18 months before facing the tariffs. He also plans to announce tariffs on chips and other products.
  • All members of BRICS, including India, will face 10% tariffs for allegedly aiming to 'hurt America' and 'destroy the dollar'.
  • Trump reaffirmed that the August 1 tariff deadline for countries failing to enter a trade deal with the US will not be extended, with more tariff letters expected to be sent out soon.

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