Reported by Tahir Ishaq Shehu

U.S. President Donald Trump has announced sweeping new tariffs on copper, pharmaceuticals, and semiconductors, sparking global market reactions and reigniting trade war fears.
• Copper Imports: A 50% tariff will take effect by late July or August 1, driving U.S. copper futures up 10–12%. Analysts expect a surge in shipments before implementation, followed by a potential price correction in Q3.
• Pharmaceuticals: Tariffs of up to 200% are planned, with a 12–18 month grace period for supply chain adjustments. Markets initially reacted negatively but rebounded.
• Semiconductors: Tariffs under consideration; details pending.
• Global Diplomacy: The U.S. set an August 1 deadline for exemptions. The EU, Japan, and India are negotiating exclusions. South Africa and Malaysia face uncertainty.
• Market Impact: European markets opened higher, while Wall Street saw modest declines. Indian markets were flat, with the rupee slightly weaker. Australia is seeking clarity over impacts on its $2.1 billion pharma exports.
• Risks: Analysts warn of rising inventories, volatile currencies, and diplomatic tensions. The tariffs, announced less than 16 months before the 2026 election, are Trump’s most aggressive trade move in years.