U.S. President Donald Trump said on Tuesday he is imposing a 50% tariff on all copper imports, marking the latest in a series of sweeping trade measures during his second term.
The timeline for implementation is not yet clear.
“Today we’re doing copper,” Trump said during a Cabinet meeting, adding he expects the rate to be 50%.
This follows earlier across-the-board tariffs on cars (25%), steel, and aluminium (both 50%), under Section 232 national security grounds. The U.S. imported $17 billion in copper last year, with Chile as the largest supplier.
Copper futures surged 15% in New York following the announcement, reaching a record $5.68 per pound. Analysts warned the new tariff will likely raise costs for American manufacturers and consumers.
Separately, Trump said 200% tariffs on pharmaceutical imports are also on the way, though they may be delayed to give companies time to shift production to the U.S. The administration launched an investigation into drug imports in April.
Trump argues the U.S. must reduce reliance on foreign medicine suppliers, a policy shift from his first term when pharmaceuticals were exempt from tariffs.
Microsoft expects to invest about $30 billion in capital expenditures this quarter, part of an overall record of more than $80 billion planned for...
Egypt's military dropped humanitarian aid by parachute over parts of Gaza on 30 July, targeting areas unreachable by road as famine warnings intensify...
The United States and Israel have criticised Canada’s announcement that it will recognise the State of Palestine at the UN General Assembly in Septe...
Canadian Prime Minister Mark Carney announced that Canada plans to recognise the State of Palestine at the 80th United Nations General Assembly in Sep...
Microsoft expects to invest about $30 billion in capital expenditures this quarter, part of an overall record of more than $80 billion planned for fiscal 2025, as its AI-powered cloud services continue to accelerate revenue and market value.
Egypt's military dropped humanitarian aid by parachute over parts of Gaza on 30 July, targeting areas unreachable by road as famine warnings intensify.
The United States and Israel have criticised Canada’s announcement that it will recognise the State of Palestine at the UN General Assembly in September, warning the move rewards Hamas and undermines peace efforts.
Canadian Prime Minister Mark Carney announced that Canada plans to recognise the State of Palestine at the 80th United Nations General Assembly in September 2025, aligning with France and other nations advocating for Palestinian statehood.
The world’s biggest dance music festival faces an unexpected setback as a fire destroys its main stage, prompting a last-minute response from organisers determined to keep the party alive in Boom, Belgium.
Australian researchers have created a groundbreaking “biological AI” platform that could revolutionise drug discovery by rapidly evolving molecules within mammalian cells.
Australian researchers have pioneered a low-cost and scalable plasma-based method to produce ammonia gas directly from air, offering a green alternative to the traditional fossil fuel-dependent Haber-Bosch process.
A series of earthquakes have struck Guatemala on Tuesday afternoon, leading authorities to advise residents to evacuate from buildings as a precaution against possible aftershocks.
'Superman' continued to dominate the summer box office, pulling in another $57.25 million in its second weekend, as theatres welcome a wave of blockbuster competition following a challenging few years for the film industry.
Microsoft expects to invest about $30 billion in capital expenditures this quarter, part of an overall record of more than $80 billion planned for fiscal 2025, as its AI-powered cloud services continue to accelerate revenue and market value.
Egypt's military dropped humanitarian aid by parachute over parts of Gaza on 30 July, targeting areas unreachable by road as famine warnings intensify.
The United States and Israel have criticised Canada’s announcement that it will recognise the State of Palestine at the UN General Assembly in September, warning the move rewards Hamas and undermines peace efforts.
Canadian Prime Minister Mark Carney announced that Canada plans to recognise the State of Palestine at the 80th United Nations General Assembly in September 2025, aligning with France and other nations advocating for Palestinian statehood.
U.S. President Donald Trump will meet with South Korea’s trade delegation in Washington as Seoul races to negotiate a deal before 1 August’s 25 percent tariffs on Korean exports, South Korean officials stated.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment