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Trump says he will impose 50% tariff on copper

UNITED STATES, JUL 10 – The 50% tariff aims to protect US industry amid trade imbalances and national security concerns, pushing copper prices to record highs and affecting global supply chains, experts say.

  • On Tuesday, President Trump declared a 50% tariff on all copper imports to the United States, triggering a rise in copper futures by more than 12%.
  • The tariff follows concerns about growing global copper demand, limited domestic production, and national security risks posed by foreign competitors, notably from major suppliers like Chile.
  • Chile, the largest foreign copper supplier to the U.S., has not received formal notification of the tariff and expressed uncertainty about which copper products and countries the tariff targets.
  • Copper prices surged by as much as 17% during the day, reaching an unprecedented high of $5.89 per pound, driven by market responses and analyst expectations of increased costs amid rising trade tensions and supply constraints.
  • The tariff could intensify the global trade war, impact copper-dependent industries, and raise import costs, while the effective implementation date remains unclear.
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Mises Institute broke the news in on Tuesday, July 8, 2025.
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