US President Donald Trump on Tuesday introduced 50 per cent tariffs on copper, after having carried out comparable duties on metal and aluminium. He added that tariffs on prescription drugs might rise to 200 per cent after a yr.
That is important for India, which exported $2 billion price of copper and copper merchandise globally in 2024–25, with the US accounting for $360 million, or 17 per cent, of that complete. The US can be India’s largest abroad marketplace for prescription drugs. Drug exports to the US rose to $9.8 billion in FY25, up 21 per cent from $8.1 billion the earlier yr, and now account for 40 per cent of India’s complete pharma exports.
Trump mentioned he’s planning to impose tariffs on imported semiconductors and prescription drugs, with drugs tariffs probably reaching 200 per cent. Nevertheless, he mentioned drugmakers could be given a couple of yr “to get their act collectively”.
“We’re going to offer individuals a couple of yr, a yr and a half to come back in and, after that, they’re going to be tariffed,” Trump informed reporters throughout a Cupboard assembly on the White Home.
Reiterating his risk of a ten per cent tariff on BRICS, Trump mentioned the bloc was “not a critical grouping” however acknowledged that it’s difficult the US greenback. “It’s alright if you wish to problem the greenback. However they must pay the tariffs. I don’t suppose they need that,” he mentioned.
“In the event that they need to carry the prescription drugs into the nation… they’re going to be tariffed at a really, very excessive charge, like 200 per cent. We’ll give them a sure time period to get their act collectively,” he mentioned.
“We’re going to be saying prescription drugs, chips, and a few different issues — you understand, huge ones,” Trump added, whereas unveiling the brand new tariff on copper.
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Commerce knowledge confirmed that the US is India’s third-largest copper export market, after Saudi Arabia (26 per cent) and China (18 per cent). Nevertheless, given copper’s standing as a crucial mineral and its intensive use throughout infrastructure, vitality and manufacturing, India’s home trade is more likely to soak up any decline in US demand ensuing from the proposed tariffs.
A 200 per cent tariff on pharmaceutical exports might severely impression demand, particularly as India’s generics trade performs a key position in supplying inexpensive medicines to the US healthcare system.
Reiterating his risk of a ten per cent tariff on BRICS, Trump mentioned the bloc was “not a critical grouping” however acknowledged that it’s difficult the US greenback. “It’s alright if you wish to problem the greenback. However they must pay the tariffs. I don’t suppose they need that,” he mentioned.
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