Washington: US President Donald Trump has again slammed the BRICS grouping, which includes India, and further declared 50% tariffs on copper. The metal is a major export from India to the US. Though India has been hopeful of a trade agreement between the two countries that would waive off some of the levies, Trump said on Tuesday that tariffs on pharmaceuticals could rise to 200%. The US President clarified that he would wait for a year to increase the tariffs up to that level. If this happen, India—which has pharma manufacturing hubs in Himachal Pradesh, Telangana and other places and is a major exporter—will be badly hit.
The US is, in fact, India’s largest export market for medicines – at $9.8 billion in 2024-25, 20% more than the previous fiscal. The US accounts for 40% of India’s total pharma exports, The Indian Express reported.
When it comes to copper—used in tech, construction and other key industries—India’s exports were at $2 billion in 2024–25, of which the US accounted for $360 million, nearly 17%, IE mentioned in its report.
“If they have to bring the pharmaceuticals into the country… they’re going to be tariffed at a very, very high rate, like 200 per cent. We’ll give them a certain period of time to get their act together,” Trump said, as he referred to non-US manufacturers.
Barring the pharma sector, the rest of the tariffs may come into effect as early as August 1.
‘Anybody that is in BRICS is getting a 10% charge’
Trump reiterated his dislike of BRICS, which has Brazil, Russia, India, China and South Africa, plus Egypt, Ethiopia, Iran, Saudi Arabia, and the UAE as its members.
#WATCH | On India, in respect of tariffs, US President Donald Trump says, “…They will certainly have to pay 10% if they are in BRICS because BRICS was set up to hurt us, to degenerate our dollar…The Dollar is king. We are going to keep it that way. If people want to challenge… pic.twitter.com/VgVF2olMPL
— ANI (@ANI) July 8, 2025
These countries would face a 10% tariff, Trump said. The US President claimed that BRICS was formed to “hurt” the US and “degenerate” the dollar.
“That is okay if they want to play their game, I can play their game too. So anybody that is in BRICS is getting a 10% charge,” Trump told reporters.
