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US President Donald Trump speaks during a furniture gathering successful the Cabinet Room of the White House successful Washington, DC, connected July 8, 2025.
Andrew Caballero-Reynolds | AFP | Getty Images
President Donald Trump said helium volition enforce a 50% tariff connected copper imports connected Tuesday, and suggested much steep sector-specific duties are connected the way.
"Today, we're doing copper," Trump said during a Cabinet gathering astatine the White House. "I judge the tariff connected copper, we're going to marque it 50%." He did not accidental specifically erstwhile that tariff would instrumentality effect.
Trump besides said helium would soon denote tariffs "at a very, precise precocious rate, similar 200%," connected pharmaceutical imports.
Pharmaceutical companies could person up to a twelvemonth and a fractional to commencement producing their products successful the U.S. earlier those caller tariffs instrumentality effect, Trump added.
Copper prices jumped to a grounds precocious aft Trump's abrupt announcement, with the September futures declaration surging 10.5% to $5.8955 per pound.
Shares of copper miner Freeport-McMoRan, meanwhile, roseate 5% arsenic investors expect home producers to payment from the tariff.
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— CNBC's Spencer Kimball contributed to this report.
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