Trump extends tariff suspension; suggests copper and pharmaceutical tariff

U.S. President Donald Trump has extended a temporary suspension of increased tariffs on select foreign trading partners until Aug. 1, but the measure continues to exclude China.

Trump also suggested the U.S. would impose a 50 per cent tariff on copper and a possible 200 per cent tariff on pharmaceuticals.

In an executive order, Trump said the decision to prolong the 90-day suspension — originally implemented under Executive Order 14266 — is based on ongoing discussions and input from senior officials. The suspension lowers the additional duty rate to 10 per cent for countries listed in Annex I of Executive Order 14257, excluding the People’s Republic of China.

The White House said the extension reflects the “sincere intentions” of certain trading partners to address U.S. national and economic security concerns.

Tariff relief for China, initially granted through Executive Order 14298 in May, remains unchanged by the new directive.

The suspension now runs through 12:01 a.m. EDT on Aug. 1.