Trump says 50% tariff on copper will begin Aug. 1
On Thursday, May 8, 2025, Utah is a copper wires at a recycling facility in the US Salt Lake City in the USA.
Niki Chan Wylie | Bloomberg | Getty Images
US President Donald Trump said on Wednesday that the 50% tariff in copper imports announced the previous day will enter into force on August 1.
The decision was given after a national security assessment, Tr Trump said Truth is an article on Social.
“After receiving a solid national security assessment, I announce a 50% tariff on the copper that valid on August 1, 2025,” Trump said.
“Copper, semiconductors, aircraft, ships, ammunition, data centers, lithium ion batteries, radar systems, missile defense systems and even hypersonic weapons are required for hypersonic weapons.
Copper prices increased by 2.62% after Trump’s last announcement and increased by 13.12% and recorded the best daily earnings since 1989.
Meanwhile, the three -month comparison of copper futures on the London Metal Exchange fell $ 9630.50 by 1.63% decreased from Singapore time, which is a reflection of the unusual wide premium developing between the US copper and metal elsewhere.
US Copper Prices rose to Trump’s 50% tariff announcement
According to the London -based agency Benchmark Mineral Intelligence, US consumers may pay about $ 15,000 per metric tone for copper, while the rest of the world pays about $ 10,000 until August.
Adam Whiteley of BNY Investments, CNBC’s “Squawk Box” in the Trump’s last announcement is an indication of the trade policy that he wanted to protect, he said.
“Copper is probably in a third tariff category with national security. So we have negotiation tactics, trade imbalances and then copper or really minerals, perhaps semiconductors, perhaps any of the pharmaceutics.” He said.
Behind copper, iron and aluminum is the third most consumed metal globally. The US imports almost half of the copper it uses, most of them come from Chile, US geological research.
The British multinational research company BMI expects global copper mining production to increase from 2025 to 2034 by an average of 2.9%, and annual production increased from 23.8 million metric tons to 30.9 million metric tons in 2025.
For this year, the company’s analysts expect global copper mining production to increase from year to year in 2025, and support the production in Chile and supported by the ongoing increase in the Tolgoi mine in Mongolia.
Analysts, Peru, Russia and Zambia are expected to be among those who contributed to the increase in global output.
In the early hours of Tuesday, US Trade Secretary Howard Lutnick said CNBC’s “Power Lunch Lunch”, Trump management wants to bring “copper production home”. He said Trump’s movement will bring copper tariffs in accordance with the US duties on imports. Steel and aluminumTrump doubled to 50% in the early June.
However, experts say it will take some time before the production increase and possibly fulfill the demand for decades.
It is the third most consumed metal behind copper, iron and aluminum. The US imports almost half of the copper it uses, most of them come from Chile, US geological research. Trump at the end of February I ordered a probe Potential new tariffs in copper imports for national security reasons.
– Jenni Reid and Kevin Breuninger from CNBC contributed to this report.
