On July 8, U.S. President Trump announced that a new 50% tariff would be imposed on all copper imports into the United States, but he did not disclose the specific date when the new tariffs would take effect.

Speaking at a cabinet meeting at the White House that day, Trump said, “I think we’re going to raise the tariff on copper to 50%.”

According to a report by the U.S. Consumer News and Business Channel, after the cabinet meeting, U.S. Commerce Secretary Lutnick said that the Department of Commerce has completed its investigation into the status of copper imports, and he expects the new tariffs “could be implemented by late July or August 1.”

Trump also said that the U.S. government is planning to impose new tariffs on pharmaceuticals, semiconductors, and several other specific industries. As an example, he mentioned that tariffs on foreign-made pharmaceuticals could rise as high as 200%.

However, he said that this new tariff may not take effect in the short term, with the aim of giving pharmaceutical companies some time to relocate to the United States.