Trump’s Bizarre Bourbon‑Brew: Copper & Pharma Gets the Tariff Treatment
The Main Dish
Yesterday, President Donald Trump took the cue from a sizzling copper market and declared that the U.S. will slap a hefty 50% tariff on imported copper when the price hits a record high. “Today we’re doing copper,” he announced, sounding like a stockbroker at a charity auction.
He also hinted at a future “astonishing” tax on pharmaceuticals—up to a “fantastic” 200% in 18 months if imports keep marching in. And it’s not just copper—chips and other big-ticket items might get the same brass‑tack treatment soon.
Tariff Tsunami? What the Fuss Is All About?
On Monday, Trump sent out letters to 12 nations, specifying that rates could climb as high as 40%. These new dispositions will kick in on August 1st, and, according to the president, they themselves are a lot like a “confused iceberg.”
- Country A: 40% tariff on electronics
- Country B: 30% on pharmaceuticals
- Country C: 25% on steel
In the market, copper futures in America spiked over 10% to US$5.682 per pound— an all‑time high that would make a whale blush. Meanwhile, at the London Metal Exchange, copper slid 2.4% to US$9,653 per tonne.
Alignment Efforts & German Optimism
German Chancellor Friedrich Merz told the Bundestag, “I’m cautiously optimistic that we can reach a deal with the US in the next few days—by the end of the month at the latest.” That’s a candid, straight‑forward line that might get some chuckles from those who enjoy diplomatic déjà vu.
Pharma and the “Year and a Half” Rule
Trump clarified that importing pharmaceuticals under current rules would get two years of the usual tariff, but after that period, the “disclaimer of a hundred percent” is turned into a 200% “buy new bottle” bill.
If you’re wondering how those tariffs might affect your next trip to London or your next pharmaceutical purchase—commonly known as a “very high price tag” trip—just keep this in mind: The President is fashioning a future where imports pay a lot more.
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