In a press briefing following a cabinet meeting, the USA’s 47th president announced a 50% tariff on copper imports and a future 200% tariff on pharma products. Copper prices surged +20% after the announcement. This is the largest intraday on the asset since 1988. Meanwhile, the ridiculous 200% pharma tariff will affect Indian pharmaceutical giants. However, the impact will not be immediate, as Trump has given a grace period of one year or one and a half years before the 200% tariff on pharma products will be imposed.
Post the announcement: while the American pharma companies are trading in green, the Indian companies with the highest exposure to the US are pegged to suffer losses. Some of these Indian firms are Gland Pharma (50%), Aurobindo Pharma (50%), Dr Reddy’s (45%), Zydus Life (45%) and more. India exports almost $10 billion worth of pharma products to the US.
No extension to any of the tariffs for 200 nations has been given. The deadline is August 1. Trump also announced that all BRICS nations will be charged a 10% tariff. He alleged that BRICS was set up to destroy the dollar. Trump stated people can challenge the dollar, but they will have to pay a price.
President Donald Trump says he plans to implement a 50% rate on copper as part of a set of looming sectoral tariffs https://t.co/dLZ6ICafJI pic.twitter.com/Ewxp4RnF46
— Bloomberg TV (@BloombergTV) July 8, 2025
All members of BRICS will be charged 10% tariff, says US President #DonaldTrump.
For the latest news and updates, visit: https://t.co/by4FF5oyu4 pic.twitter.com/XMsUv7D6c5
— NDTV Profit (@NDTVProfitIndia) July 8, 2025
Could look at 200% tariff for pharma products to come into US, says US President #DonaldTrump.
Read: https://t.co/5IOIDo4X6T pic.twitter.com/HpTw2CAGy1
— NDTV Profit (@NDTVProfitIndia) July 8, 2025
BREAKING: Copper prices surge as much as +20% after President Trump imposes a 50% tariff on copper imports. pic.twitter.com/E46r4zeYBt
— The Kobeissi Letter (@KobeissiLetter) July 8, 2025
Trump teases 200% tariffs on overseas pharmaceutical companies importing medicines into US https://t.co/w9IA2g20Gs
— Washington Examiner (@dcexaminer) July 9, 2025
#WATCH | Trump drops tariff bombshell — Pharma, chips, copper in the crosshairs with levies up to 200% incoming. Announcement expected soon as trade tensions escalate.#Trump #Tariffs #Pharma #TradeWar pic.twitter.com/Km1UQGZwvi
— ET NOW (@ETNOWlive) July 9, 2025
Trump #Tariffs: If US President #DonaldTrump follows through with 200% tariff threat on pharma imports, India pharma giants could be severely impacted.
Varsha Chandnani breaks it down pic.twitter.com/DUI9MxqZRQ
— NDTV Profit (@NDTVProfitIndia) July 9, 2025
Reactions poured in with memes and worried remarks. One netizen remarked, “Putting tariffs on cars and clothes is one thing, putting them on essential lifesaving drugs is another. It’s not like they can setup a factory and start production from tomorrow.”
Another quipped, “They won’t be able to sustain if they kick out Indian meds..Covid was an eye opener for them..how much can his own companies do?”
Yet another user remarked, “Nothing will happen…. It’s just for arm twisting to bargain more . People who track pharma sector knowns neither U.S has the capacity nor does it has the facilities to produce drugs domestically. The biggest opportunity to buy pharma stock may be just around the corner if falls.”
> Trump imposes 50% tariff on copper
live reaction: pic.twitter.com/sOYa3KH4qF
— Maia (@maiamindel) July 8, 2025
Putting tariffs on cars and clothes is one thing, putting them on essential lifesaving drugs is another. It’s not like they can setup a factory and start production from tomorrow.
— Self Unmade (@selfunmade) July 8, 2025
They won’t be able to sustain if they kick out Indian meds..Covid was an eye opener for them..how much can his own companies do?
— Samrat Putatunda (@samratmonarch) July 8, 2025
Nothing will happen….
It’s just for arm twisting to bargain more .
People who track pharma sector knowns neither U.S has the capacity nor does it has the facilities to produce drugs domestically. The biggest opportunity to buy pharma stock may be just around the corner if falls
— MUNISH GOYAL (@munishgoyal001) July 9, 2025
Cover: Patrick Gawande / Mashable India
Great Job Mashable News Staff & the Team @ Mashable India tech Source link for sharing this story.
