How Will Trump’s 50% Tariff on Copper, 200% Pharma Warning Affect India’s Export Sector?
July-9, 2025: Washington/New Delhi –
In a bold escalation of his protectionist trade agenda, US President Donald Trump on Tuesday announced a 50% tariff on copper imports and issued a stern warning of a 200% tariff on pharmaceutical products imported into the United States. These proposed measures are likely to have serious implications for India, which counts the US as a top trading partner in both copper and pharmaceuticals.
Also Read: Indian Stock Market Today: 8 Overnight Triggers from Trump’s Tariffs to Copper Surge
Speaking during a cabinet meeting, Trump declared:
“Today we’re doing copper. I believe the tariff on copper, we’re going to make it 50%.”
This move builds on previous duties placed on steel and aluminium and immediately triggered a surge in global copper prices. Trump confirmed the new tariffs will be effective by July-end or August 1.
Commerce Secretary Howard Lutnick later reinforced that tariffs would be rolled out aggressively and confirmed that studies into pharmaceuticals and semiconductors would be completed by month-end, potentially triggering more trade barriers.
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Trump also issued a massive tariff warning on pharmaceuticals, saying:
“We’ll give manufacturers a year, maybe a year and a half to relocate production to the US. After that, we’re imposing a very high tariff—like 200%.”
This is particularly worrisome for India’s booming generic drug exports, which form the backbone of affordable healthcare in the US.
Trump didn’t hold back on geopolitics either. He reiterated a 10% blanket tariff threat on all BRICS member nations (Brazil, Russia, India, China, South Africa), calling the bloc “not a serious grouping” but one that’s challenging the US dollar’s dominance.
“It’s alright if you want to challenge the dollar. But you will have to pay the tariffs. I don’t think they want that,” Trump warned.
India exported $2 billion worth of copper and copper products globally in FY2024–25, with $360 million (17%) going to the US, its third-largest copper market. The new tariffs may squeeze this sector’s margins, though domestic demand could absorb the excess supply.
The bigger concern lies with India’s $9.8 billion pharma exports to the US, which account for 40% of India’s total drug exports. A 200% duty could cripple demand, undercutting the pricing advantage of Indian generics in the world’s largest pharmaceutical market.
India and the US are currently negotiating a mini trade agreement, and government officials say the August 1 deadline is critical. If the deal is inked in time, the proposed tariffs may not be enforced on Indian exports.
Donald Trump, US Tariffs, Copper Tariff, Pharmaceutical Exports, India-US Trade, BRICS Tariff, Trump Trade War, Indian Economy, Copper Exports, Pharma Industry, US-India Relations, Howard Lutnick, Generic Drugs, Mini Trade Deal
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