Section 232 Steel/Aluminum/Copper Tariffs Expanded to 50% Flat Rate

Trump restructured Section 232 duties to apply a flat 50% tariff on the full customs value of steel, aluminum, copper, and derivative products, effective April 6, 2026. Simultaneously imposed up to 100% tariffs on patented pharmaceutical imports. The tariff escalation triggered a sharp equity market selloff with the S&P 500 and Dow each falling 9–10% — analysts comparing the moves to the 1987 Black Monday event.