Summary of Important News Items and Editorials-31
Summary of Important News Items and Editorials-31
INDIAN EXPRESS DATED 9TH JULY 2025.
1. 50% Tariff on Copper, Pharma May Invite Up to 200%: Trump
In a sharp escalation of trade tensions, U.S. President Donald Trump announced a 50% tariff on copper imports and signalled a potential increase in pharmaceutical tariffs to 200% within a year. The announcement comes amid ongoing trade negotiations with India and as part of Trump's broader protectionist agenda. Copper is a critical Indian export, with the U.S. accounting for 17% of India’s $2-billion global copper exports in 2024–25. The pharmaceutical sector, even more crucial, saw $9.8 billion worth of exports to the U.S., forming 40% of India’s total drug exports. Trump justified the tariff hike as a strategy to encourage domestic production, offering drugmakers a year to "get their act together." While domestic Indian industries might absorb the copper demand shock, the pharmaceutical sector faces serious ris
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