President Donald Trump has introduced that the U.S. will impose a 50% tariff on imported copper, marking a brand new escalation in his broader levy coverage aimed toward reshoring essential U.S. industries.
Trump made the announcement throughout a Cupboard assembly in entrance of the press on Tuesday the place he linked the transfer to his America First coverage of rebuilding industrial provide chains and forcing corporations to supply supplies domestically.
“Right this moment we’re doing copper,” Trump stated whereas noting that imported metal and aluminum already face 50% tariffs, whereas automobiles and automobile components have 25% tariffs.
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“We’ll be saying prescribed drugs, chips and numerous couple of different issues, you realize, massive ones,” he stated prefacing the copper tariffs.
When requested to make clear the speed he stated: “I consider the tariff on copper, we will make it 50%.”
Commerce Secretary Howard Lutnik agreed that the 50% fee was correct.
Trump didn’t say when the tariff would take impact and advised reporters that he deliberate to make the copper tariff announcement later within the day.
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Trump additionally didn’t specify whether or not the tariff applies to all nations or chosen ones. Chile is the biggest copper exporter globally. The U.S. has a free commerce settlement with Chile, however a blanket tariff might override it until exceptions are carved out.
The metal and aluminum tariffs initially utilized globally and had been then modified by nation, with exclusions for allies.
Copper is a essential materials utilized in electrical wiring for houses, automobiles, buildings and energy grids. It’s additionally utilized in renewable vitality methods like photo voltaic panels and wind generators in addition to electrical automobiles.
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In February, Trump ordered a probe into potential new tariffs on copper imports in an effort to rebuild U.S. manufacturing, a transfer that appeared to immediate a rush for copper.
Futures contracts for the steel jumped by 13% after the announcement, the biggest single-day worth surge in information going again to 1968, the Wall Road Journal reported, citing Dow Jones Market Information. U.S. futures costs by practically 42% this yr, the outlet reported.
Trump introduced the preliminary spherical of tariffs on April 2, 2025, throughout an occasion he dubbed “Liberation Day” on the Rose Backyard on the White Home. Copper was not included within the preliminary record of tariffed items.
Reuters contributed to this report.