Stock Market News, July 8, 2025: Trump Unveils 50% Levy on Copper, Sending Price to Record
Trump's Copper Tariff Sends Prices Soaring to Record Highs
Former President Trump ignited global markets today, July 8, 2025, by announcing a 50% levy on copper imports. The move immediately sent copper prices to an unprecedented record high, impacting industries worldwide. This unexpected action, alongside threats of a 200% tariff on pharmaceuticals, signals a potentially significant shift in U.S. trade policy.
Analysts predict ripple effects across various sectors, particularly in India, a major consumer of copper. Tariffs (taxes on imported goods) are designed to protect domestic industries, but can also raise costs for consumers.
The Wall Street Journal reports that the pharmaceutical tariff could be implemented "very soon," adding further uncertainty to the economic outlook. Investors are closely watching for further developments and assessing the potential impact on global supply chains.
