Trump Announced Duties Of 50% On Copper

• 9.07.2025, 9:43

U.S. metal futures jumped more than 10 percent afterward.

U.S. President Donald Trump said on Tuesday he would impose 50 percent duties on copper imports and impose long-promised tariffs on semiconductors and pharmaceuticals soon, expanding the trade war, Reuters reported (translation - moscowtimes.ru).

U.S. copper futures jumped more than 10 percent after Trump announced new duties on the metal, which is critical to the production of electric vehicles, military equipment, power grids and many consumer goods. Trump's announced new duties will complement existing tariffs on imports of steel, aluminum and automobiles, but the timing of their imposition is still unclear.

Shares of U.S. pharmaceutical companies sagged after Trump threatened to impose duties of 200% on imports of medicines, although the U.S. president said their imposition could be delayed by about a year.

"It's time for the United States to start getting money from countries that have been ripping us off ... and laughing behind our backs about how stupid we are," he said.

Trump also said at least seven duty notices would be issued Wednesday morning, with more to follow in the afternoon. He gave no other details in his Truth Social media post.

In the meantime, other countries said they would try to mitigate the impact of Trump's announced duties, whose deadline was pushed back from Wednesday to Aug. 1.