The U.S. president also imposed a 50% tariff on copper.

On Tuesday, President Donald Trump announced a 50% tariff on copper and threatened to impose tariffs of up to 200% on pharmaceutical products if their manufacturers do not relocate to the United States.

RELATED:

Trump Defends Bolsonaro Amid Criminal Proceedings in Brazil

“We’ll give them about a year, a year and a half, to come here. After that, tariffs will be applied if they have to bring in pharmaceutical products, medicines and other items. A very high tariff will be applied — around 200%,” he said, criticizing previous administrations for allowing the offshoring of the pharmaceutical industry.

“Everyone left. They went elsewhere because the people in this room let it happen. And I don’t let it happen. The people in this room don’t let it happen,” he added in remarks before members of his Cabinet.

His announcement came one day before the expiration of the initial deadline given to U.S. trade partners to establish new tariffs to replace those considered reciprocal tariffs.

So far, Washington has reached agreements only with China, the United Kingdom and Vietnam. The administration has postponed to Aug. 1 the start of the 90-day tariff truce announced in April, which was originally set to expire on July 9.

“As per letters sent to various countries yesterday, in addition to letters that will be sent today, tomorrow, and for the next short period of time, tariffs will start being paid on August 1, 2025.

There has been no change to this date, and there will be no change. In other words, all money will be due and payable starting August 1, 2025 — No extensions will be granted,” Trump posted on Truth Social.

Despite delaying the deadline, the president has already set tariffs for about a dozen countries, including Japan and South Korea, which will face 25% tariffs beginning Aug. 1, according to letters sent Monday to the governments of those nations and published on Trump’s Truth Social account.

The White House defended the deadline extension, formalized through an executive order signed by Trump, as an opportunity for Washington to negotiate new trade agreements with each country.

According to presidential spokesperson Karoline Leavitt, the postponement of the deadline is not a sign of difficulties in the ongoing negotiations, but rather a recognition that the Republican administration “wants the best for the American worker and seeks the best possible deals.”

Among those who would have faced increased tariffs if the original deadline had remained was the European Union, which Trump has threatened with tariffs of up to 50%.

On Tuesday, European Commissioner for Economy Valdis Dombrovskis said the EU is eager to reach a trade agreement with the United States as soon as possible, stating that it would eliminate “the uncertainty surrounding the tariff issue, which is already weighing on the economy and business decisions.”

teleSUR/ JF

Source: EFE

IN THIS ARTICLE