Trump Slaps 50% Tariff on Copper Imports
The U.S. imported $17 billion worth of copper last year, according to Commerce Department data. Chile was the largest foreign supplier.
Quick overview
- President Trump signed a proclamation imposing a 50% tariff on semi-finished copper products, effective August 1, citing national security concerns.
- The tariffs exclude copper scrap and raw materials, and include measures to support the domestic copper industry.
- Copper prices fell significantly following the announcement, reflecting market anticipation of the tariffs.
- In a separate move, Trump announced a 25% tariff on goods imported from India due to high tariffs on U.S. products and India's purchases from Russia.
U.S. President Donald Trump signed a proclamation on Wednesday imposing a 50% tariff on semi-finished copper products and copper-intensive derivatives, effective August 1, citing national security concerns.
The tariffs will not apply to copper scrap or raw materials such as copper ores, concentrates, blister, cathodes, or anodes, according to the statement. The move follows a Section 232 investigation ordered by Trump in February.
Alongside the tariffs, the order includes measures to support the domestic copper industry—most notably, a requirement that 25% of high-grade copper scrap produced in the U.S. be sold domestically.
Copper prices fell as much as 18% before trimming losses, trading at $5.1310 per pound. Much of the U.S. market had anticipated some form of tariff on raw copper, a key input for wiring and other materials widely used in construction and automotive manufacturing.
The U.S. imported $17 billion worth of copper last year, according to Commerce Department data. Chile was the largest foreign supplier, shipping $6 billion worth of copper to the U.S. in 2024.
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