Politics × Macro

Trump imposes 100% patent drug and 50% metals tariffs in sweep

On April 2, Trump invokes Section 232 to layer 100% tariffs on patent drugs and flat 50% rates on finished steel, aluminum, copper (25% on derivatives). MFN price-agreement firms and domestic-production commitments can pass through at 0%; 17 accelerated-track firms hit tariffs July 31.

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