Trump announces 50% copper tariff to boost U.S. production

AWANI

President Donald Trump revealed plans to impose a 50% tariff on imported copper, aiming to strengthen domestic production of the critical metal used in electric vehicles, defense systems, power infrastructure, and consumer goods, with U.S. Comex copper futures surging over 10% following the announcement, while the timing of implementation remains unclear and industry groups await the outcome of a Section 232 investigation due in November.

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00:00Meanwhile, Trump said he will announce a 50% tariff on imported copper on Tuesday

00:05in an effort to boost U.S. production of a metal critical to electric vehicles,

00:11military hardware, the power grid and many consumer goods.

00:15U.S. COMEX copper futures jumped more than 10% after the announcement.

00:21Trump told reporters at a White House Cabinet meeting that he planned to make the copper tariff announcement later in the day,

00:27but he did not say when the tariff would take effect.

00:30Once we did seal, as you know, they're 50%. We did aluminum, 50%. Lumber just came out.

00:36We're not sure that's copper.

00:37And we did cars. Cars. And now today we're doing copper.

00:41Copper and lumber. What would that tariff be on?

00:44I believe the tariff on copper, we're going to make it 50%.

00:4750%.

00:48The Trump administration announced a so-called Section 232 investigation into U.S. imports of the red metal in February.

00:55The deadline for the investigation to conclude is in November.

00:59The National Mining Association and the American Critical Minerals Association did not immediately respond to requests for comment.

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