President Donald Trump has made it clear that he is concerned about the United States’ dependence on foreign countries for much of its copper and is looking to boost domestic mining of the metal, but his efforts are likely to feed inflation and take years to reap rewards.
The Commerce Department will investigate imposing tariffs on global copper imports to the U.S., White House officials said Tuesday, the first step toward likely levying duties on the metal. Commerce will open the investigation under Section 232 of the Trade Expansion Act,
"American industries depend on copper, and it should be made in America, no exemptions, no exceptions," Commerce Secretary Howard Lutnick said.
Another industrial metal is in the spotlight, once again due to President Trump. Copper prices are rallying after Trump instructed the Commerce Department to investigate imposing tariffs on imports of the metal.
President Donald Trump opened yet another front on Tuesday in his assault on global trade norms, ordering a probe into potential new tariffs on copper imports to rebuild U.S. production of a metal critical to electric vehicles,
US President Donald Trump has ordered an investigation of copper imports in what is a first step toward potential tariffs on the metal. Administration officials said the White House wanted to find ways to boost US production of copper,
President Donald Trump on Tuesday directed the government to consider possible tariffs on copper, the latest move by the White House to tax a wide array of imports and reshape global trade. “It will have a big impact,
The White House suggested Tuesday there is a strong case for copper import protections because the metal is an essential component of military hardware.
Tariffs, if they are imposed, could boost U.S. production of a valuable resource but also raise costs for automakers, construction companies and others.
The U.S. mined about 1.1 million tons of copper in 2024, which is less than the demand in a year. Some of that copper is refined overseas.