United States President Donald Trump on Tuesday announced a fresh round of tariffs targeting a broad range of imports, including copper, semiconductors, and pharmaceuticals. The decision, aimed at reinforcing domestic manufacturing and boosting tariff revenue, marks a significant escalation in the U.S. administration’s protectionist trade agenda.
Announcing the development via his social media platform, Truth Social, Trump disclosed that a minimum of seven new tariff notices would be rolled out on Wednesday, with additional levies expected later in the week. Although the full list of targeted countries was not released immediately, the implications of this move are already reverberating across global markets and diplomatic corridors.
Among the most high-profile measures is a 50% tariff on all copper imports into the United States. Semiconductors—already at the heart of geopolitical tensions between the U.S., China, and other tech-heavy economies—will also face a new wave of tariffs, though the exact rate is yet to be disclosed. Pharmaceuticals, a sector critical to global public health and supply chains, are similarly under the hammer in this latest round of duties.
The new duties follow Trump’s issuance of tariff letters to 14 countries on Monday, including key allies like South Korea and Japan, signaling tariffs of 25% and above starting August 1. On Wednesday, the administration released another list affecting six additional nations: Algeria (30%), Brunei (25%), Iraq (30%), Libya (30%), Moldova (25%), and the Philippines (20%).
Trump defended the aggressive tariff strategy as vital for national economic strength, stating that tariffs are a “major revenue generator” for the U.S. government. Treasury Secretary Scott Bessent confirmed this position, revealing that the administration has already raked in $100 billion from tariffs and expects the figure to triple to $300 billion by the end of the year.
However, the Yale Budget Lab, a U.S. fiscal watchdog, has flagged the growing burden on consumers, noting that the effective tariff rate has risen to 17.6%, the highest since the 1930s, up from 15.8% earlier this year.
Despite these economic pressures, U.S. equity markets remained relatively stable, although the Japanese yen weakened further in response to tariffs affecting Japan’s exports.
While cracking down with tariffs on one hand, Trump also hinted at possible progress with major economic partners. He described ongoing talks with the European Union and China as “going well,” stating that the EU had become “much more cooperative.”
Trump said a new proposed tariff rate on EU goods would be communicated in the next two days. The U.S. has extended its trade negotiation deadline with the EU to August 1, offering a window for an agreement to be reached.
EU Trade Commissioner Maros Sefcovic acknowledged that progress has been made toward a draft agreement, but Italian Economy Minister Giancarlo Giorgetti warned that the negotiations remain “very complicated” and could go down to the wire.
At home, the new tariffs have drawn sharp criticism from Democratic leaders. Massachusetts Governor Maura Healey condemned the policy as a “failed trade war,” arguing that it is driving up consumer prices and placing unnecessary strain on U.S. businesses.
Meanwhile, skepticism is mounting over Trump’s ambitious “90 trade deals in 90 days” promise, made when the first wave of country-specific tariffs was introduced in April. So far, only the United Kingdom and Vietnam have finalized agreements, with negotiations ongoing with India.
As Trump’s trade agenda intensifies, analysts warn that continued tariff escalation could disrupt global supply chains, strain diplomatic ties, and increase inflationary pressures in the U.S. economy. The copper and semiconductor industries—key to both green energy and the tech sector—are likely to bear the brunt of the latest policies, potentially triggering countermeasures from affected countries.
With the 2025 U.S. presidential election cycle heating up, Trump’s aggressive trade stance appears to be both an economic and political maneuver. Whether it succeeds in delivering long-term benefits or invites retaliation and market instability remains to be seen.