Trump proposes tariffs on copper and pharmaceuticals to boost US production

President Donald Trump plans to impose a 50% tariff on copper imports and is considering a 200% levy on pharmaceutical products. This move is part of an effort to bring production back to the U.S. Commerce Secretary Lutnick stated that the goal is to increase domestic copper production. The U.S. imported $17 billion worth of copper in 2024, mainly from Chile, Canada, Peru, and Mexico. Copper is used in various industries, including electronics, electric vehicles, and medical devices. The majority of copper imports arrive via ocean container ships at ports like New Orleans, Los Angeles, and Houston.

Read more at Yahoo Finance: Trump floats 50% tariff on copper, 200% on pharmaceuticals