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US President Donald Trump has imposed a 50% tariff on copper imports, effective August 1, 2025, citing a robust national security assessment. The decision is expected to boost domestic copper production, with Commerce Secretary Howard Lutnick stating that the goal is to “bring copper production home.” Trump emphasized copper’s significance in various industries, including semiconductors, aircraft, ships, ammunition, data centers, lithium-ion batteries, and hypersonic weaponry, noting it’s the second most used material by the Department of Defense.

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The tariff announcement led to a significant surge in copper prices, with a 2.62% increase following the announcement and a 13.12% jump the previous day, marking the largest single-day gain since 1989. According to Benchmark Mineral Intelligence, US consumers may pay around $15,000 per metric ton for copper, while the rest of the world pays approximately $10,000 by August

Experts predict potential shortages and price increases in the US market, with Carlos Miguel Gutierrez, former Secretary of Commerce, stating that ramping up copper production will take time, possibly decades. The US imports nearly half of its copper, mostly from Chile. Trump’s trade policy aims to protect national security, with copper tariffs aligning with existing duties on steel and aluminum imports.

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Potential Impact:

– Copper Prices: Copper prices surged after Trump’s announcement.

– US Production: The US plans to boost domestic copper production.

– Global Economy: Trump’s trade policies may contribute to a global economic slowdown.

– Pharmaceuticals: Trump hinted at imposing tariffs of up to 200% on pharmaceutical imports..

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