Trump threatens new tariffs on copper and pharmaceuticals

However, the President did not disclose when the tariffs would take effect.

Transcript

00:00Copper is the latest tariff target. President Trump announced a 50% tariff on all copper imports, doubling the rate he previously floated.

00:09That sent copper prices soaring Tuesday before pulling back on Wednesday.

00:13Still, they're up about 7% this week and almost 40% this year, hovering just shy of record highs.

00:20Copper is essential in everything from electronics to cars to industrial machinery,

00:25so higher prices could make those items more expensive for American consumers.

00:29Last year alone, the U.S. imported $17 billion worth of copper, according to the Commerce Department.

00:35It's still unclear when the copper tariffs will take effect, but it would mark the fourth major sector hit by tariffs under Trump.

00:42Right now, steel and aluminum are each facing 50% tariffs.

00:46Imported cars and car parts carry a 25% levy.

00:49And next up, possibly pharmaceuticals.

00:52Trump has threatened a 200% tariff on imported drugs.

00:56That'll do it for your daily briefing from the New York Stock Exchange.

00:59I'm Caroline Woods with The Street.