Latest in Trump tariffs may hit India severely: 200% on medicines, 50% on copper
India is hopeful of a trade deal with the US that offsets or removes some of these levies; negotiations are on for some weeks now
US President Donald Trump's tirade of trade tariffs continues as he again slammed the BRICS grouping, which includes India, and further announced 50 per cent tariffs on copper, which is a major export from India to the US.
India is hopeful of a trade deal that offsets or removes some of these levies – negotiations are on for some weeks now – but Trump also said on Tuesday that tariffs on pharmaceuticals could rise to 200 per cent.
He added that he would wait for a year to take the tariffs up to that level.
Pharma or medicines is a major sector of export for India, which has manufacturing hubs in Himachal Pradesh and Telangana, among other places.
The US is, in fact, India’s largest export market for medicines – at $9.8 billion in 2024-25, which was over 20 per cent more than the previous fiscal. The US accounts for 40 per cent of India’s total pharma exports, The Indian Express underlined.
As for copper, which is used in tech, construction and other key industries, India's exports were at $2 billion in 2024–25, of which the US accounted for $360 million, about 17 per cent, IE added citing trade data.
“If they have to bring the pharmaceuticals into the country… they’re going to be tariffed at a very, very high rate, like 200 per cent. We’ll give them a certain period of time to get their act together,” Trump said, referring to non-US manufacturers.
Barring the pharma sector as per his statement, the rest of the tariffs might come into effect as early as August 1.
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Trump slams BRICS again
The US president reiterated his dislike of BRICS, the group that currently has 11 members: Brazil, Russia, India, China and South Africa being the original members, plus Egypt, Ethiopia, Iran, Saudi Arabia, and the UAE, besides Indonesia.
These countries would face a 10 per cent tariff, Trump said, claiming that the group was set up to “hurt” the US and “degenerate” the dollar.
“That is okay if they want to play their game, I can play their game too. So anybody that is in BRICS is getting a 10 per cent charge,” Trump told reporters.
