Trump's Proposed Steep Tariffs May Hit India's Copper And Pharma Sectors— All About It

US President Donald Trump has announced a 50 per cent tariff on copper imports, expanding his sector-specific trade actions that already cover steel and aluminium, reported NDTV.

He also warned of a possible 200 per cent tariff on pharmaceuticals after about a year, aiming to push manufacturers to relocate production to the United States.

"Today we're doing copper. I believe the tariff on copper, we're going to make it 50 per cent," Trump told a cabinet meeting Tuesday (8 July).

Prices for the metal surged following the announcement.

US Commerce Secretary Howard Lutnick said the tariff would likely take effect by end of July or 1 August.

On pharmaceuticals, Trump added, "We're going to give people about a year, a year and a half to come in, and after that, they're going to be tariffed. They're going to be tariffed at a very, very high rate, like 200 per cent."

He also reiterated a threat to impose a 10 per cent tariff on BRICS, calling the bloc "not a serious grouping" but acknowledging its challenge to the US dollar:

"It's alright if you want to challenge the dollar. But they will have to pay the tariffs. I don't think they want that," he added.

The move could hit India hard as the US is its largest pharma export market, worth $9.8 billion in FY25—40 per cent of India’s pharma exports.

India also ships $360 million in copper to the US.

While copper demand may shift domestically, pharma exports face steep risks unless a mini-trade deal is finalised before the 1 August tariff deadline.

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