Trump Imposes 50% Tariff on Copper Imports, Prices Plunge

Trump Imposes 50% Tariff on Copper Imports, Prices Plunge

President Trump has enacted a 50% tariff on all copper imports, according to a White House announcement. This action has led to an immediate and significant drop in copper prices.

Tariff Details and Implementation

The new tariff is set to take effect on Friday, coinciding with the restart of other trade duties. This move follows similar tariffs already imposed on steel and aluminum.

Market Reaction

U.S. copper prices experienced a dramatic decline after the tariff was announced, impacting major copper mining companies. Freeport-McMoRan and Southern Copper saw their stock values decrease.

Administration's Rationale

The Trump administration asserts that these tariffs are designed to bolster domestic industries and address existing trade imbalances.

Expert Concerns

However, experts caution that the tariffs could result in increased prices for a wide range of products that depend on copper, including construction materials and electronics.

Copper Imports

The U.S. relies on imports for nearly half of its copper supply, with a significant portion coming from Chile.