US will raise tariffs on copper to 50%, Trump says

President Donald Trump said that copper entering the US from other countries will face a new tax from other countries.

The decision continues to threaten the tariff earlier this year, in which metal imports affect national security.

Similar probes appear on other sectors, including pharmaceuticals, semiconductors and timber, as part of Trump’s claims to protect and increase the American industry.

Copper prices in the United States said that Howard Lutnick Secretary, Secretary of the Ministry of Commerce, will come into force at the end of the month.

Lutnick said he expects Trump to sign documents to formalize the decision of the President’s cabinet at a meeting on television in the coming days.

“We’re making copper today,” Trump said. “We will do 50%.”

The US imported approximately 810,000 metric tons of refined copper last year, about half of what it consumed, According to US Geology Research.

Chile was the biggest supplier and watched it in Canada.

Metal is seen as an important component in electric vehicles and construction as well as military equipment.

50% for copper matches the US tax in steel and aluminum products after Trump raises last month.

Trump’s plans for Copper are preparing to raise tariffs on goods from around the world as of August 1st.

Trump has applied a 10% tariff for most products, but called for more aggressive plans to allow trading negotiations after the financial markets withdrawn in more upright tariffs and business groups in the USA.

Trump sent letters to the leaders of 14 countries on Monday, including South Korea and Japan, and warned them about plans to establish new taxes between 25% and 40%.

Many trade partners still hopes to make agreements before August 1st.

On Tuesday, Trump said that negotiations with the European Union went well and send a letter explaining a new tariff rate, “probably two days closed”.

In his statements, Trump said he plans to move forward with tariffs up to 200% in drugs, but would give at least one year to set the industry.