Trump says 50% copper tariff to take effect Aug. 1
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Copper, Tariff
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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.
“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.
Trade tensions and demand worries are among catalysts contributing to recent dip in copper prices. - However, weakness in the industrial metal may be short-lived as the long-term outlook still shines.
President Donald Trump said on Wednesday his administration will charge Brazil with a 50% tariff on products sent to the U.S. starting August 1 while the Republican leader also expressed support for former Brazilian President Jair Bolsonaro.
President Donald Trump said the U.S. will impose a 35% tariff on all Canadian goods from Aug. 1 and threatened a blanket 15 to 20% levy on most other nations. “If for any reason you decide to raise your tariffs,