U.S. Announces New Tariffs on Copper and Pharmaceuticals

According to BlockBeats, U.S. President Donald Trump announced during a cabinet meeting that new trade agreements are forthcoming, particularly those involving unilateral tax rates set by the United States. Trump stated, "These agreements are essentially demands I make of them, and the numbers we choose are both low and fair." Trump revealed that the U.S. will impose a new 50% tariff on imported copper. Following this announcement, New York copper futures surged, with intraday gains expanding to 17%. Additionally, Trump mentioned that the U.S. will soon impose tariffs of up to 200% on pharmaceuticals. However, companies will have a year and a half to adjust their supply chains before these tariffs take effect. Trump also indicated plans to announce tariffs on semiconductors soon, though he did not specify the tariff levels or implementation dates.