President Donald Trump has announced a sweeping new 50% tariff on copper imports into the United States, as part of a renewed push to shield American industries from foreign competition. The move, revealed during a televised cabinet meeting, is expected to take effect by the end of July.
“Today we’re doing copper,” Trump said during the meeting. “We’re going to make it 50%.” The announcement follows through on threats the president made earlier this year when he ordered an investigation into whether copper imports pose a risk to national security.
The tariff decision has already jolted copper markets. Prices surged to record highs in the U.S. following the news, as traders braced for disruption to the supply of a metal essential for military equipment, electric vehicles, and construction. Last year, the U.S. imported approximately 810,000 metric tons of refined copper—about half of its total consumption—primarily from Chile and Canada.
Commerce Secretary Howard Lutnick confirmed the tariffs are being finalized and President Trump is expected to sign the order in the coming days. “These measures are designed to strengthen American industry,” Lutnick said, adding that the tariffs will mirror recently imposed levies on steel and aluminum.
Industry reaction was mixed, with some leaders holding back comment pending further details. “We have to see whether this will apply to all countries or only some,” said the chairman of Chilean state-owned copper producer Codelco, which could be heavily impacted by the new policy.
Trade experts expressed concern over the broader implications of the move. Scott Lincicome, vice president of economics and trade at the Cato Institute, warned that while the tariffs might benefit U.S. producers, they would increase costs for domestic manufacturers who rely on copper as a raw material. “It’s more of the same: uncertainty and rising input costs,” he said. “We’re seeing historically high U.S. tariffs becoming the norm.”
The copper tariffs come as part of a broader escalation in trade policy. The White House is preparing to implement additional duties—ranging from 25% to 40%—on various imports starting August 1. Letters warning of these actions have reportedly been sent to 14 countries, including Japan and South Korea.
Meanwhile, UK steelmakers remain in limbo over a separate 50% tariff that could take effect if a pending U.S.-UK metals deal isn’t finalised by July 9. While a framework was agreed in May to exempt certain UK steel and aluminium products, tariff reductions are yet to be implemented, leaving firms vulnerable to significant costs.
In a further development, Trump also signalled intentions to impose tariffs of up to 200% on pharmaceuticals, though he stated the industry would be given a year to adjust.
With more sectors—including semiconductors and lumber—under review, the administration’s aggressive trade stance appears set to intensify in the coming months.
