Trump's copper tariff puts Canadian exports at risk
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Trump, Tariff and Global Economy
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President Donald Trump on Wednesday affirmed that the United States will levy a 50 percent tariff on copper imports starting Aug. 1, following through on an earlier statement that he would target a key metal used for semiconductors, lithium-ion batteries, renewable energy technology and more.
Copper shipments into the United States are expected to accelerate in the coming weeks in a final scramble to get metal across the border before U.S. President Donald Trump's higher than expected 50% tariff on imported copper takes effect.
United States President Donald Trump's proposed 50% tariff on copper imports would affect Mexican exports worth around US $1 billion per year.
President Donald Trump has launched a wave of Section 232 tariffs and investigations, seeking to protect U.S. national security. These nine graphics show the scale and structure of U.S. reliance on
U.S. President Donald Trump's 50% tariff on copper has placed a record premium on prices of the metal in the United States that is likely to ease over the coming months as a stockpile created by traders anticipating the levy works through the system.
“The U.S. has been sucking in lots of copper that it didn’t really need from around the world,” Albert Mackenzie is a copper analyst at Benchmark Mineral Intelligence. President Trump had signaled that the tariffs were coming months ago, prompting many U.S. buyers to stockpile copper ahead of time.
Copper is the third-most-used metal in the United States, behind iron and aluminum, and imports make up 45% of refined copper consumption. This makes the metal and industries that rely on it ...
Goldman Sachs said on Wednesday that copper shipments into the United States are expected to accelerate in the coming weeks following U.S. President Donald Trump's announcement of a 50% tariff on imported copper.
Canadian goods imported into the U.S. will face a blanket 35 percent tariff starting next month, President Donald Trump said Thursday in an announcement that came in the midst of active trade negotiations between the two countries.