President Donald Trump on Thursday (April 2nd), exactly one year after imposing tariffs on the rest of the world on Liberation Day (April 2nd, 2025), imposed tariffs on pharmaceuticals and strengthened tariffs on steel, aluminum, and copper.

President Trump imposed a 100% tariff on patented pharmaceutical raw materials and products. He also imposed a 50% tariff on products composed entirely of aluminum, steel, or copper. Both of these tariffs are imposed under Section 232 of the Tariff Act, through an executive order.

According to White House documents, the pharmaceutical tariffs are set to take effect after 120 days for large corporations and after 180 days for small and medium-sized enterprises.

Companies that enter into Most Favored Nation (MFN) agreements with the United States and domestic production transfer agreements will be exempt from paying tariffs until the start of the next presidential term.

"Companies that sign only domestic production agreements with the Department of Commerce will be subject to a 20% tariff," the guidance states, adding that "the Department of Commerce and the Department of Health and Human Services will provide avenues for companies to enter into domestic production and Most Favored Nation (MFN) price agreements with the U.S. government."

The guidance also states that "pharmaceuticals produced in the European Union, Japan, South Korea, Switzerland, and Liechtenstein will be subject to a 15% tariff," and "for pharmaceuticals produced in the United Kingdom, a lower tariff will apply according to the recently signed UK pharmaceutical agreement."

The imposition of pharmaceutical tariffs follows a Section 232 trade law investigation led by Secretary of Commerce Howard Rutnik.

According to the White House, President Trump's announcement regarding steel, aluminum, and copper is "to define the method of tariff valuation, ensuring that the actual value of imported steel, aluminum, and copper products is reflected, and that artificially lowered foreign prices are not reflected."

This proclamation imposes a 50% tariff on products made entirely or almost entirely of the three metals, and a 25% tariff on derivative products that contain a significant amount of steel, aluminum, or copper.

The guidance also adds that "products produced overseas but made entirely of U.S.-made steel, aluminum, and copper will be subject to a lower tariff of 10%," and "products that use 15% or less of steel, aluminum, or copper will no longer be subject to the Section 232 metals tariff."

By U.S. NNP=Sung Ku Hong, Editor-in-Chief / Special to this publication NNP info@newsandpost.com