Administration officials could release details of Trump’s planned 50% duty on copper in the days before they’re set to take effect Aug. 1, according to a person familiar with the matter. That’s the same date so-called reciprocal levies on products from more than a 100 nations are slated to begin. Trump said on Tuesday he is likely to impose tariffs on pharmaceuticals by month’s end, adding that import taxes on semiconductors could come soon as well.
One person familiar with the process said after copper, Trump’s team has discussed making announcements on lumber, chips, critical minerals and drugs in that order, though that cadence has not been finalised and may change. Those would follow existing duties on steel, aluminum, automobiles and car parts. Once fully implemented, all the sectoral tariffs would cover 30% to 70% of a country’s imports, with much of the rest being hit by country-specific charges, according to a person familiar with the matter.
The coming wave of US customs taxes will test the calm in financial markets, where investors mostly see Trump’s tough tariff talk as a negotiating ploy prone to delays and de-escalation rather than a prolonged economic headwind.
After investigations that can last about nine months, sectoral duties are being imposed on national security grounds under Section 232 of the Trade Expansion Act. It’s seen as stronger legal footing than the emergency powers Trump used for his country levies, which face court challenges and are being assigned in letters to dozens of trading partners without a deal.
