Prospective Tariffs on Metals, Computer Chips, Semiconductors, and Pharmaceuticals

On January 27, 2025, President Trump threatened to impose tariffs on U.S. imports of copper and aluminum (metals needed for U.S. military hardware production), as well as steel. He also threatened tariffs on goods such as computer chips, semiconductors, and pharmaceuticals. The threats were intended to entice producers to increase production of these products in the United States. In a January 28, 2025, White House Press briefing, it was confirmed that the tariff on metals will be implemented on February 1st. Any imposed tariffs on such goods will likely pass on to U.S. consumers.