Trump Says 50% Copper Tariff To Take Effect Aug. 1
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President Trump wants America to produce more of the much-needed mineral, but a 50 percent tariff could undermine his aim of a manufacturing renaissance.
President Donald Trump announced that the United States will impose a 50% tariff on all copper imports starting August 1. The decision threatens to disrupt a global supply chain for one of the key inputs for the American industry and a crucial commodity for the green technology transition.
Copper shipments into the United States are expected to accelerate in the coming weeks in a final scramble to get metal across the border before U.S. President Donald Trump's higher than expected 50% tariff on imported copper takes effect.
President Donald Trump has launched a wave of Section 232 tariffs and investigations, seeking to protect U.S. national security. These nine graphics show the scale and structure of U.S. reliance on
U.S. President Donald Trump's announcement of a proposed 50% tariff on copper imports has raised concerns in Chile and Peru, which together account for nearly 40% of global copper production.
U.S. President Donald Trump's 50% tariff on copper has placed a record premium on prices of the metal in the United States that is likely to ease over the coming months as a stockpile created by traders anticipating the levy works through the system.
“The U.S. has been sucking in lots of copper that it didn’t really need from around the world,” Albert Mackenzie is a copper analyst at Benchmark Mineral Intelligence. President Trump had signaled that the tariffs were coming months ago, prompting many U.S. buyers to stockpile copper ahead of time.
Tariffs have raised US$100 billion (S$128 billion) for the US so far, said US Treasury Secretary Scott Bessent. Read more at straitstimes.com. Read more at straitstimes.com.