The planned 50% tariff on copper imports may turn out to be the biggest own goal of U.S. President Donald Trump's ongoing trade war with the rest of the world.

Trump also said he would soon announce tariffs “at a very, very high rate, like 200%,” on pharmaceutical imports.

President Donald Trump told reporters during a cabinet meeting Tuesday that more trade deals are on the way, especially in the form of letters setting rates unilaterally by the U.S. “The deals are mostly my deal to them,

Trump's threat of 200% tariff on pharmaceutical products could have severe implications on Indian drugmakers, as exports to the US form a significant share of their overall sales.

Trump and his aides have repeatedly shifted their stance on tariffs in the weeks since the president’s “Liberation Day” announcement.

Donald Trump has revived his threat to hit major trading partners with steep “reciprocal” tariffs even as he granted a three-week reprieve for countries to negotiate trade deals with the US.

“Any Country aligning themselves with the Anti-American policies of BRICS, will be charged an ADDITIONAL 10% Tariff. There will be no exceptions to this policy,” Mr. Trump said in a Truth Social post. He did not elaborate, nor did he say what BRICS policies he was referring to.