The U.S. will impose a 50% tariff on copper imports, and tariffs on medicines could reach 200%.

The US will impose a 50% tariff on copper imports and threatens to impose a 200% tariff on medicines!

The US President said Tuesday that he would impose a new 50% tariff on all copper imported into the US, "What we are doing today is copper."

This means the fourth round of comprehensive tariffs implemented by the president during his second term. Currently, most imported cars and car parts face a 25% tariff, while imported steel and aluminum face a 50% tariff.

According to data from the US Department of Commerce, the US imported $17 billion worth of copper last year, with Chile being the largest foreign supplier of copper, exporting $6 billion worth of metal to the US last year.

After the president announced plans to tax copper, copper prices surged to a historical high, with New York copper futures rising as much as 15%, reaching a record $5.68 per pound.

The president also said on Tuesday that a 200% tariff on medicines is coming soon, but this may not take effect for some time, in order to encourage more companies to move to the US.

Original: https://www.toutiao.com/article/1837117517459456/

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