President Donald Trump said he planned to implement a 50% duty on copper imports as part of a set of looming sectoral tariffs, while also indicating he could offer pharmaceutical manufacturers at least a year before applying a crippling 200% tariff on their foreign-made products.

“There has been no change to this date, and there will be no change. In other words, all money will be due and payable starting AUGUST 1, 2025 – No extensions will be granted,” President Donald Trump wrote in a Truth Social post on Tuesday.

U.S. copper prices vaulted to an all-time high Tuesday after President Trump said Washington will slap imports of the metal with a 50% tax. Futures contracts for the metal--key for electrical wiring,